Presentation Henrik Haeder, Partner Transport Capital Pte.
Presentation Henrik Haeder, Partner Transport Capital Pte.
Presentation Henrik Haeder, Partner Transport Capital Pte.
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1) Alternative financing/credit funds – typical financing terms<br />
Lender<br />
PE fund<br />
Loan type<br />
Senior secured loan<br />
Underlying assets<br />
Second hand vessels (i.e. 5-15 years old)<br />
Borrowers credit<br />
Sub-investment grade<br />
Loan tenor<br />
≤ 5 years<br />
Loan-to-Value 60-80%<br />
Loan Margin<br />
≥ 10% p.a.<br />
Fees<br />
Up-front and back-end<br />
Prepayment fee<br />
Nil<br />
Waiver fees<br />
High<br />
Security type<br />
Standard<br />
Event of default<br />
Standard<br />
Credit funds are return-driven (not relationship-driven) and can achieve 15%+ annual IRR returns.<br />
Several debt to equity swaps in the coming years can be expected.<br />
6
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