Company description
A publicly traded cloud-based technology company that enables the flow of commerce by providing a broad set of software as a service (SaaS) solutions that optimize and accelerate commercial interactions between buyers and seller.
Request
The company was exploring options to refinance and triple the size of their existing syndicated credit facility under a short timeframe. The main criteria were to partner with a lender who could margin against Monthly Recurring Revenues (MRR) to allow for greater access to capital.
Recommendation
Leveraging our full stack product suite, covering senior to subordinated structures, we presented a creative joint approach to support their long-term growth, consisting of:
- Revolving term loan facility margined against the business' MRR with Scotiabank;
- Non-revolving term loan facility with Roynat.
Both facilities were structured to align with the company's growth plans and flexibility to unlock more capital as revenues and expenses grew.
Outcome
The company opted to consolidate their debt with Scotiabank/Roynat, a cost-effective solution that required only one diligence package and a flexible structure that grew as the business grew.
