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Direct Lending

We provide independent loan agency services to assist with the administration of direct lending and syndicated loan transactions.

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Independent loan agency services for direct lending transactions

The continued withdrawal of banks from mid-market corporate financing has left a huge gap that direct lending seeks to fill.

While funds make direct lending deals for the benefit of their investors, overseeing and administering those deals is a complex and resource-intensive operation.

That’s where Ocorian comes in. We provide standalone roles or a full loan agency service including facility (administrative) agent and security trustee (collateral agent) services to private debt funds, asset managers and lenders.   

Our team of banking and finance professionals have experience working through complex debt scenarios and credit cycles.

We harness our expertise and utilise market leading loan software platform to manage the administration of even the most complex of direct lending portfolios, leaving you free to focus on the work that matters most to you.

Our loan agency team can help you

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  • Provide continuity across the lifecycle of the loan

    As an independent party, we’ll provide continuity and stability to the loan even when the original lenders have moved on.

  • Visualise your loan portfolio easily

    Ocorian Optics, our self-service loan platform allows you to visualise the performance of your portfolio through interactive data analytics, reporting and dashboard tools.

  • Streamline your service providers

    Ocorian can provide roles across the full lifecycle of the loan including acting as facility (administrative) agent, security trustee (collateral agent) and escrow agent.

  • Reduce costs

    By streamlining your direct lending administration, we help you to keep control of costs.

Why Ocorian?

  • 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.

    Dedicated restructuring and defaults specialists
  • Experience across global jurisdictions

    Our team has extensive experience of dealing with complex / distressed situations, security enforcements and restructurings across multiple jurisdictions.

    Experience across global jurisdictions
  • Focus and independence

    As we are not the lender or creditor, you can rely on us for our focus, independence and responsive actions.

    Focus and independence
  • Highly responsive

    Our trustee team provide efficient KYC services for fast onboarding of deals, act as an integral part of the deal team and are highly responsive to the needs of the creditors and transaction.

    Highly responsive

Direct lending services

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 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

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.

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.
  • Lender of record management and associated cash management.

We will act as a liaison between the issuer and the stock exchange.

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. 

What you say

What you say

  • "Ocorian consistently provide a high quality level of service and are always attentive and responsive to our needs. As well as developing personal relationships, the Ocorian team are always happy to assist and proactive in issue spotting."

    Hayfin Capital Management

    Vikas Mehta, Legal Counsel

Let’s talk

Contact us and a member of our team will be in touch.