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Private Credit

“We price for speed and complexity, not for risk.”
— Joel Hogarth

Example Mandates

Various Private Credit Projects by E&L

Background

  • Due diligence, transaction structuring and legal documentation on an agri-financing.
  • Monitoring accountant, technical consultant on a construction project.
  • Transaction support arranging a second creditor to file PKPU proceedings.
  • Appointment by a private credit fund on the restructuring (and ultimate white-knight buyout) of a listed hospitality company.
  • Acquisition of a distressed portfolio from a local bank.
  • Structured settlement of a share backed financing.
  • Onshore enforcement of offshore shareholding and litigation support.

E&L Value Add

  • Deep commercial knowledge of industry and jurisdiction.
  • Transaction structuring advice, including direct enforcement and practical step-in rights.
  • Financial monitoring and technical support where required.
  • Network of potential white-knight investors.
  • Alignment between commercial objectives and legal strategy.
  • Risk prevention before risk mitigation.

Outcome

Illustration:

Listed Hospitality Company Debt Restructuring

  • Restructuring of a prominent listed hospitality operator after COVID-19; funded by private credit and onshore bank debt.
  • Negotiated with bank creditors and other stakeholders, including listed company shareholders.
  • Secured a buyer for onshore bank debt and equity conversion terms acceptable to equity shareholders.
  • Debt to equity conversion conducted through IDX.
  • Private credit fund outcome improved by increase in equity value of its share collateral.