Bridgebank Capital completes £10.95m loan
05 February 2016 1781 Views
Quantum by Bridgebank Capital has completed a £10.95 million short term loan advance against a portfolio of prime London properties, part of which are undergoing redevelopment works, in an extremely complex ownership structure, for a non-domiciled, non-resident, high net worth borrower.
The properties are held within a complex structure of offshore companies and trustco’s, and has been provided to complete a debt refinancing arrangement agreed with the borrower’s previous term lender.
During the underwriting and due diligence process, the team at Quantum by Bridgebank Capital worked extensively with a number of international counter parties and advisors involved in the lending process, relating to matters connected to the Offshore company’s and trust arrangements.
This was successfully delivered due to the understanding of the lender's requirements by all professional parties, the absolute transparency of information and structures provided by the borrower and their professional advisors, full fluid co-operation and a sustained flow of information throughout the whole process.
As a result of Quantum by Bridgebank Capital’s ability to cross collateralise on additional security, we were able to provide the funding required for the borrower at a 30% LTV.
Carl Graham, Sales Director commented: “This completion demonstrates Quantum by Bridgebank Capital’s ability, along with our professional support teams and underwriters; Chris Edwards and Nigel Taylor to deliver against borrower requirements, whilst overcoming a range of complex issues that may have deterred other lenders”.