Loan and Bond Restructuring Services
Trusted independent provider of commercial agent or trustee services in restructurings.Contact Us
The market for independent agents and trustees emerged after the 2007 financial crisis. Conflicted bank lenders who traditionally acted as agent and trustee on transactions were trading out of their loan positions and distressed funds were trading in. Independent agents and trustees were brought in to replace the outgoing agents.
Having a competent, responsive, and non-conflicted agent in place is critical to ensuring the successful facilitation of a debt restructuring. Our highly experienced Kroll Agency and Trustee Services team is well versed in every aspect of these engagements.
Clients choose Kroll to serve as commercial agent or trustee in restructurings to successfully implement all manner of consensual and non-consensual restructuring strategies including the following steps and services:
- Mandate Discussion
We work closely with advisors, creditor groups and their legal representatives to define and facilitate our role in a restructuring.
- Fee Proposal
We provide committed fees on the same day of inquiry, and always within a 24-hour timeframe.
- Team Allocation
Upon engagement, we assign dedicated transaction management, execution, and KYC/onboarding staff to the project to begin work immediately.
- Documentation Review
Alongside legal counsel, our team reviews all finance documents. With our depth of experience acting as the successor agent and/or trustee on a vast array of complex restructurings, our review process is fast and efficient, ensuring our comments are focused and commercial in nature.
- Post Appointment
Our team of experts will perform the operational functions of the agent and/or trustee and implement the agreed upon restructuring strategy under the direction and indemnification of the creditors.
- Lender/Loan Positions
Our team will update our system of record with lender commitments, loan drawings and interest accruals. We will notify parties of amounts due under the loan – including default interest – and receive amounts due from the borrower under the credit agreement and pay the parties. We will always quickly process the transfer of positions between lenders.
- Loan Administration
We manage requests for waivers, amendments and other consents required to implement the restructuring strategy – coordinating with all principals and ensuring financial information and other deliverables are distributed amongst the parties.
If required, we will undertake enforcement of security on behalf of lenders and/or creditors. Our team will collect enforcement proceeds and distribute to the parties in accordance with the waterfall and/or restructuring agreements.
- Post Restructuring Financing
Our team acts as agent and/or trustee on post scheme financings.
Our Team Stands Ready to Support Your Loan and Bond Restructuring Needs
Our highly experienced Agency and Trustee Services team is well versed in every aspect of loan and bond restructuring engagements. Contact us for a quote today.