"The role of Redbridge has been instrumental in supporting us to obtain optimal terms and conditions, reflecting Temenos investment grade credit ratings from S&P and Fitch. "
Engagement overview
- Accompany Temenos through the entire process of refinancing its flagship revolving credit facility of USD 660m for a targeted USD 500m.
Objectives
- Support Temenos to increase overall visibility over market conditions and structure of the facility;
- Obtain the best pricing grid possible while preserving a reasonable bank profitability aimed at keeping healthy long-term relationships with the banking pool;
- Optimize terms and conditions in line with Temenos’ investment grade ratings.
Results
- Strong support from 10 banks from Switzerland, Europe and the US;
- Significant documentation improvements attaining a new best-in-class structure;
- Overall pricing improvements including transition to a rating-based grid from leverage ratio-based.
Methodology
- Advisory on the bank consultation process and supporting material;
- Advisory on optimal structure and its implementation strategy;
- Related negotiations aimed at converging to targeted structure and conditions;
- Close follow-up of syndication process & liquidity analysis ;
- Review and analysis of all transaction documentation.
- Preparation of various presentation material internal and external for the various stakeholders and lenders.
Value added by Redbridge
- Dedicated expert capacity across corporate syndicated finance techniques;
- Thorough understanding of banks’ practices and drivers of their behavior;
- Structured analytical process allowing to analyze, synthetize and issue recommendations based on large number of bilateral bank discussions;
- Systematic benchmarking of the terms & conditions
- Close coordination with legal counsel to ensure optimal structure outcome of deal documentation.