Re-financing a portfolio
Bircroft was appointed to re-finance a portfolio of Cold-Storage Units (operated by Rick Bestwick). The existing finance in place was short–term, and our remit was to secure cheaper term-loan financing to assist cash-flow. The Cold-storage market is specialist in nature, which hugely restricts the availability of funding.
Using our extensive commercial expertise we instigated an education process with target lenders on the Cold-storage market. Following the education process, Bircroft successfully placed £5m of debt, which enabled the borrower to concentrate on the operational side for the next 5 years, whilst reducing their interest rate from 13% to 3.5% p.a.
- Successful re-education of lenders for this specialist sector
- Substantial reduction of interest rates