User Corporation

Capabilities / Debt Finance

Debt Finance

Independent advice on raising, structuring and refinancing debt, from growth and acquisition finance to refinancing under pressure.

Why it matters

Team quality is decisive in complex financings.

Whatever challenge an organization faces, having the right professionals on its team can be critical to success. Our financial advisory professionals work closely with organizations, stakeholders and their counsel on the most complex business issues.

For each engagement, we assemble a team with the functional competence and industry knowledge appropriate to the situation.

Financing types

What we help clients raise.

01

Growth and capex finance

Funding for expansion, new capacity and investment programmes, matched to the cash flows they will generate.

02

Acquisition finance

Debt to fund an acquisition, arranged alongside the M&A process so that financing does not hold up the deal.

03

Refinancing

Replacing existing facilities to extend maturities, reduce cost, release security or gain flexibility.

04

Project and infrastructure finance

Long-term financing for energy, port, logistics and other infrastructure assets, secured on the project.

05

Working capital and trade finance

Facilities that support day-to-day operations, imports and exports, and seasonal needs.

06

Restructuring and covenant resets

Renegotiating terms with lenders when a balance sheet no longer fits the business.

Why an independent adviser

On the borrower’s side of the table.

01

Independent of lenders

We are not a bank and do not lend. Our only interest is the best financing for the client.

02

Competitive tension

Approaching the right lenders in parallel, so terms are set by competition rather than by a single offer.

03

Terms beyond price

Covenants, security, tenor and flexibility often matter as much as the interest rate, and we negotiate all of them.

04

Management time

We prepare the materials, run the lender process and coordinate documentation, so management can run the business.

Our process

How we arrange financing.

Understand

Funding needs

We review the business plan, cash flows and the purpose, size and tenor of the facility.

Structure

Optimal capital structure

We recommend instruments, covenants and pricing that fit the borrower's profile.

Place

Lender engagement

We approach banks and institutional lenders and run a competitive process.

Close

Documentation

We negotiate terms and coordinate documentation through to drawdown.

Sources of capital

The lenders we approach.

Turkish banks

Domestic commercial and participation banks, for local-currency and foreign-currency facilities.

International banks

Lenders abroad, for larger transactions and companies with international operations.

Development finance institutions

Multilateral and bilateral lenders that finance long-term investment, often in infrastructure and energy.

Private credit funds

Non-bank lenders offering flexible structures where bank finance is limited.

Export credit agencies

Agency-backed financing for imported equipment and capital goods.

What lenders look at

Preparing the credit case.

  1. 1Cash flow and leverageWhether the business can service the debt, with headroom for a downturn.
  2. 2A credible planAssumptions lenders can test and believe.
  3. 3Security and guaranteesWhat the lender can rely on if things go wrong.
  4. 4Ownership and governanceWho stands behind the company, and how it is run and reported.
  5. 5Currency exposureHow foreign-currency debt is matched by foreign-currency income, a central question for Turkish borrowers.

Related services

Often used together.

Next step

Discuss a mandate in confidence.

Tell us about your transaction, financing or strategic objective. We will come back to you to arrange a confidential conversation.

  • Every enquiry is read by a senior partner
  • Strict confidentiality, with an NDA before details are shared
  • No cost or obligation for an initial discussion