Desk notes
Explanations of the structures and lender terms our clients ask about most. General information, not advice on any specific transaction.
Why one bank quote is not a market
A relationship bank's offer reflects its own balance sheet as much as your credit. A second lender, asked the same question, shows how much.
Unitranche or senior plus mezzanine?
One lender and one set of documents, or a cheaper but more complex two-tranche stack. The headline margin alone does not settle it.
Borrowing bases, explained
The facility size is not the amount you can draw. The definitions in the loan agreement decide that.
USD debt for Latin American exporters
Many Latin American exporters earn in US dollars but borrow in local currency over short tenors. International lenders can lend in dollars over longer periods if the structure gives them control of the export proceeds.
Questions about a structure
Write to rveles@sigmacreditcapital.com, or send a financing request if you have a specific need.