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Sourcing the capital
Debt Advisory
Sourcing, structuring and negotiating debt across venture, project and corporate finance.
Overview
Making debt possible, and making it work harder
We source, structure and negotiate debt across the spectrum, from venture and growth debt to project and corporate facilities. Just as importantly, we establish whether debt is possible at all, and what has to change for it to be.
For emerging technologies, the right debt can lower the cost of capital and reduce dilution, but only when it matches what the assets and commercial contracts can genuinely support. We help management teams and their investors see that pathway early.
When We Are Engaged
Unlocking debt for more cost-effective scaling
A build programme needs financing
Arranging and structuring the debt facilities that underpin plants, fleets or a wider build-out.
Bankability needs assessing
An early view for management and equity investors of whether debt is possible, and the pathway to a lower cost of capital.
Sources need blending
Combining commercial, export credit, grant and concessional funding into one coherent package.
How We Work
A mandate typically involves
Debt capacity
Debt capacity analysis and a realistic view of what the assets and commercial contracts will support.
The right lenders
Identifying the right lender category, and the right individual desks within it.
The credit case
Preparing the information memorandum, model, technical and market inputs, and risk allocation.
Running the process
A competitive process where the market allows one, and a bilateral negotiation where it does not.
Blending sources
Bringing commercial, ECA, grant and concessional funding together into a single coherent package.
Through to drawdown
Term sheet and documentation negotiation, conditions precedent management, and drawdown.
Who We Engage
The full range of lenders
Commercial banks
Corporate, project and asset finance desks at domestic and international banks.
Credit & venture debt funds
Private credit, venture and growth debt providers for earlier-stage and more complex risk.
Export credit agencies
ECA-backed and ECA-covered financing linked to equipment and technology exports.
Public & concessional
Development banks, national investment institutions and grant programmes.
Questions
Frequently asked questions
Why use a debt adviser?
An adviser opens up a wider range of lenders, prepares the credit case to the standard lenders expect, and runs a process that creates choice. Because we are not a lender, the structure is designed around the business rather than around any one lender's products.
Is debt possible for an emerging-technology or pre-revenue company?
Sometimes, depending on the technology's track record, the equity behind it, the assets and the commercial contracts. Venture debt, asset-backed and export credit financing, and grant or concessional funding can open up debt earlier than many companies expect. Where debt is not yet available, we set out what needs to change for it to be.
When should we engage a debt adviser?
Early. A bankability assessment before the money is needed shows management and equity investors what debt the business could support, so the funding roadmap can be built around it.
What do lenders look for?
A credible view of cash flows and the contracts behind them, the strength of the technology and the counterparties, the security available and how risks are allocated. Preparing that credit case well is a large part of what we do.
Can different sources of debt be combined?
Yes. Commercial, export credit, grant and concessional funding often sit together in one package. We structure how they fit and coordinate the lenders through to drawdown.
Do you lend money yourselves?
No. TFN advises and does not lend or invest its own capital. Our role is to find, structure and negotiate the right financing for the business.
Related Services
Often combined with
Sectors where we arrange debt:
Get In Touch
Exploring debt for your business or project?
Speak to the team about what your assets and contracts can support, and how to get there.
Reach out to us