Loan Workouts and Debt for Equity Swaps

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.

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 ConsultingBase, 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.

"The book is needed quite simply because there is a dearth of information on corporate restructuring. At present the number of receiverships is going down and the emphasis is on workouts. In this respect the book is very timely.", , , #"I", , , #