Business case
A European healthcare group facing covenant breaches had begun court-led conciliation proceedings and was negotiating the restructuring of its debt. An equity conversion was being considered for certain unsecured creditors, and bondholders had organised and appointed legal advisers.
The debt restructuring process hinged on debt-to-equity scenarios, with real estate valuations playing a key role.
We supported the bondholders by valuing the company, reviewing asset appraisals and financial forecasts, and helping to define fair conversion terms.