Pitching under Pressure- and Winning
In this case the financial sponsor looking for initial bids on a new deal. The sponsor set out their proposed requirements on an excel spreadsheet with nearly 60 terms and conditions specified. The “ask” was so comprehensive that it included detailed legal terms and conditions to be included in the deal.
Using our Representative Loan Terms (RLT) data base, the bank was able to identify immediately which elements of the financial sponsors requests were on market and those which were not acceptable as never having passed through the market. It proposed a comprehensive financial solution by return which worked for both sides and which was accepted by the financial sponsor.
The bank was awarded a lead arranger mandate. While fees are never revealed, it was a major payday for the bank.