The key to a successful loan workout is to identify the problemsaccurately and address them early. It is critical that thecompany’s underlying business and financial problems are resolvedand not merely the symptoms.
Loan Workouts and Debt for Equity Swaps examines how a successfulloan workout can be managed. It detail the processes andparticipants involved, whilst providing frameworks and practicalstep- by-step approaches that allow for a coherent and cohesivepolicy to give the best possible chance of success. The bookassists in the ultimate aim of providing a firm base for the futurehealth of the company involved and maximizing the lenders’ returns.This work is not merely restricted to companies and banks involvedin the process, but other important participants in loanworkouts.
Areas featured in the book are:
* What loan workouts are and why they are needed
* Non-performing loans related strategies, organization andsystems
* Participants involved in loan workouts and theirmotivations
* Symptoms of corporate distress and corporate turnaroundstrategies
* Major steps involved in a typical loan workout transaction
* Special issues relating to debt for equity swaptransactions
* A case study illustrating many of the issues covered in the book
Mục lục
Foreword by David Wilson Havelock.
INTRODUCTION AND BACKGROUND.
Introduction.
Loan Workouts: What They are and Why They are Needed.
STRATEGY, PARTIES AND THE PROCESS.
A Framework for Managing Non-Performing Loans.
Organisation and Systems Relating to Non-Performing Loans.
Managing Loan Workout Transactions.
The Company.
The Banks.
Other Key Participants in Loan Workouts.
External Advisors.
A Framework for Executing Loan Workouts.
Turning Around a Business.
The Information Gathering and Review Process.
Exploring Loan Workout Options.
Evaluating Restructuring Options and Developing Proposals.
Negotiating and Completing Transactions.
THE MORATORIUM AND FINANCIAL RESTRUCTURING.
Establishing a Moratorium.
Financial Creditors Affected by a Moratorium
The Operation of Facilities in a Moratorium.
The Concept of Loss-Sharing.
Multi-Currency Considerations.
Financial Restructuring.
Inter-Creditor Provisions in a Financial Restructuring.
Other Terms and Conditions.
Introduction to Debt for Equity Swaps.
Transaction Approach.
Equity Instruments.
Other Transaction Parameters.
Other Technical Issues.
CASE STUDY.
Project Gloucester.
Index.
Giới thiệu về tác giả
SUBHRENDU CHATTERJI has worked with banks and corporate clients on
loan workouts and corporate restructurings around the world. In
addition to advising on loan workouts-related strategy, systems and
structures within banks, he specialises in structuring debt for
equity swap transactions. He is currently the Chief Executive of
Consulting Base, an exchange for consultants working in the emerging
markets and developing countries.
PAUL HEDGES is a Senior Manager with the Royal Bank of Scotland.
Since 1989, he has been involved in the credit risk and debt
workout areas, both in the UK and Eastern Europe. Paul is
particularly experienced in the restructuring of the debt of large,
multinational companies, and in multi-bank transactions. He has
participated in complex financial restructurings, both as a banker
and as a consultant to banks and comapnies.
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