April 2024
Context
Advise SGDBF on the renewal of their existing securitisation program (originally structured with Accola’s support).
Objectives
- Optimise the pricing of the transaction
- Select a new management company and depositary
- Within a compressed period of 3 months.
Methodology
- Dedicated RFP aimed at management companies
- Consultation of a large pool of potential lenders (in all 24 banks). A detailed RFP, including quantitative and qualitative questionnaires, was circulated to assess the respondents’ commercial terms and experience
- Shortlisting of banks based on RFP responses.
- Bilateral negotiations with shortlisted banks with a view to optimising Saint Gobain’s funding cost
Results
- Improvement of the financial terms of the transaction, leading to significant yearly savings
- A renewed bank pool was selected; a new bank was chosen to arrange the transaction
- A new management company and depositary were appointed.