A development company asked us to negotiate a complicated corporate finance to raise over $75 million to fund the construction of a 20 storey mixed commercial and residential apartment building.
During those negotiations it became apparent that both the company’s and the director’s personal circumstances would impact on their ability to support the funding. Disputes arose from the director’s involvement in other businesses as to the priority the sponsor required. Other issues such as clearing prior mandates, taxation and the collateralisation of borrowing had to be dealt with to accommodate the proposed funding.
We were able to clear a path for the new money to be introduced to fund the construction and even assisted the director to refinance his family’s borrowing to its advantage in the process.
Our client is now in a position to recommence construction of a signature development with unique finance designed to support the success of the development with far fewer distractions. The director has told us he intends to involve us in his next (and biggest) venture.