Supporting you through distressed transaction scenarios
Our debt restructuring team brings widespread commercial and practical expertise to the most complex of distressed and defaulted transactions.
Our teams have extensive experience in working through numerous credit cycles and supporting private credit funds to deal with distressed work-out situations.
We can quickly recognise, isolate, and minimise risk while handling the complexities of the restructuring process and potential enforcement in foreign jurisdictions.
Ocorian can take on a number of roles at both the distressed and default stages including loan facility agent, security trustee, and bond trustee as well as incorporating SPVs, providing escrow services, and bond paying agent and listing agent capabilities.
How we help
As security trustee, we will:
- Hold security on behalf of one or more creditors
- Act as a gatekeeper for underlying security, amendments and waivers
- Assist in taking actions in case of changes and defaults or enforcements
We will act as the primary point of contact between the borrower and lenders, and managing all communication and cashflows between all relevant parties.
This includes:
- Receiving and allocating principal and interest on the loan and communicating them to the borrower and lender as required
- Setting up and maintaining the details of each loan to record principal and interest payments (receipts), coupon resets and confirming interest amounts
- Providing general loan administration services in relation to the loan facility
- Assisting with the fulfilment of all conditions precedent to financial close
- Processing utilisation requests, interest rate fixes, payment of interest, principal and fees
- Co-ordinating communication between the lenders and the borrower, including amendments, consents and waiver
- Expediting communications with third parties, including lawyers and other professional advisors
- Monitoring the overall available commitment for the facility and per lender.
- Monitoring borrower covenants by ensuring compliance with the terms of the transaction documentation
As bond trustee, we will provide a suitably qualified individual or a team to solely represent the investors, noteholders and creditors in a structure.
We will consult with them, as required, and exercise their view in any issues or disputes, and ensure the issuer complies with its obligations under the indenture.
As paying agent, we will:
- Manage both ad hoc and scheduled cashflow management, as well as transfers between borrowers and lenders.
- Assist in disbursement of funds on closing, interest payments, amortisations and repayment.
- Provide record management and associated cash management.
We can act as listing agent for securities on the Bermuda and Cayman Islands stock exchanges.
We will act as an independent escrow agent to hold your assets securely in escrow and distribute them according to your instructions or the terms of your transaction agreement.
We will assist with the process to create the SPV and give substance to that entity in the jurisdiction.
Why Ocorian?
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Dedicated restructuring and defaults specialists
Our in-house legal and sector specific expertise allows us to efficiently navigate contentious and non-contentious situations in conjunction with our network of trusted industry professionals.
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Experience across global jurisdictions
Our team has extensive experience of dealing with complex, distressed situations, security enforcements and restructurings across multiple jurisdictions.
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Focus and independence
As we are not the lender or creditor, you can rely on us for our focus, independence and responsive actions.
Let’s talk
Contact us and a member of our team will be in touch.
If you would like to speak to someone in regards to media please email: [email protected]
For career information and job applications please visit our careers page