Written by , in Fundraising.
In the wake of House of Fraser’s fall into administration this month, its suppliers have been left with a sizable hole to fill following the restructuring of the department store’s debt. This is one example of a recent glut of household-name retailers failing due to changing market conditions, while the collapse of Carillion earlier this ...
Written by , in General.
The Altimapa team is keeping busy this summer even while away on vacation. Our diverse group has a wide range of interests and has translated into how we quench our curiosities, from management to history and to poetry. So with no further ado, here is the first ever Altimapa summer reading list!
in Definitions.
The ratio between debt and EBITDA. Leverage can either be "gross" (gross debt to EBITDA) or "net" (net debt to EBITDA). Often lenders will remove extraordinary items from EBITDA when calculating leverage
in Definitions.
In the context of a loan, this informal expression typically refers to the total costs of the loan, including the interest expense, fees and any other payments due to the lender. It would normally also account for the time-value of money (payments made in the short term are worth more than those made at a ...
Written by in Case Studies.
In May 2018, Altimapa successfully secured a 5-year interest-only growth capital loan for Progress to Excellence and its owner a2e Industries. This capital was used to fund a pipeline of acquisitions and to allow the management team to increase its stake in the business.
in Definitions.
This association was created to assist the development of the secondary loan market in Europe. It intends to develop best practice and standard documentation. LMA Documentation is used as a starting point in many loan discussions.
in Definitions.
A measure of the value of a loan to the collateral against which it is secured. A €30million loan secured by a €50 million property would be described as a 60% LTV loan.
in Definitions.
Debt that ranks below senior bonds or loans but above common equity. Junior Debt instruments are often called mezzanine loans but can also be structure as preferred equity.
in Definitions.
A similar source of funding to factoring, invoice discounting maintains the relationship between buyer and seller, with the collection of the cash remaining the responsibility of the company.
in Definitions.
A term for financial or corporate entities that pool money, to be used for the purchase of securities (including loan origination), real property and other investment assets. The most well-known entities are banks, insurance companies, pension and hedge funds, real estate trusts, investment advisors and mutual funds.