We play well with others.
We are usually able to provide all of the capital a business needs; but sometimes, a transaction is too large for us to finance on our own. When that happens, our Syndication and Placement group swoops in with the expertise, institutional contacts, and proven track record to raise additional debt capital.
Whether for growth, acquisitions, recapitalisations, or buyouts, we can provide a large anchor commitment and structure the entire financing need with institutional partners. In addition, various forms of capital can be provided, such as investment grade, below investment grade, secured, unsecured, fixed, or floating.
- £100 million - £500 million
- Anchor commitments of £75 million - £200 million
- Leveraged buyouts
- Management buyouts
- Stock buyback
- Growth and expansion capital
- Generalist sector approach
- Discreet asset financing
- Investment grade: long-term, fixed-rate debt
- Below investment grade: long-term, fixed-rate debt or shorter term, floating-rate debt
- Maturities of 5 to 20 + years with custom amortisation schedules
- Large anchor commitment de-risks execution
- Access to institutional contacts
- Small relationship-focused investor group
- Avoid expense and time of larger auction process
- One-stop-shop capability
- Senior debt + subordinated debt combination
- No agency rating requirement
- Quick and efficient execution
- Competitive market yields
- Proven track record
Algonquin Gas Transmission, LLC
Natural gas transporter utilises a club issuance to fund growth and small shareholder dividend
Calgary, Alberta-based Algonquin Gas Transmission, LLC is a Canadian transporter of natural gas on behalf of local distribution companies through its approximately 250 mile pipeline network in New Jersey and southern New England.
We first began working with Algonquin in 1992, and we have been in close contact ever since. In spring of 2019, they informed us of an interest in borrowing capital for growth and a small shareholder dividend. The problem? Their existing investors could not provide all of the capital they needed. The solution? A Pricoa Private Capital-led club issuance.
Algonquin considered going through an agented process, or arranging a self-clubbed transaction. But thanks to the trust and close relationship built between us, along with the ease and certainty of execution they were used to when working together with us, Algonquin ultimately determined that we should take the lead on club issuance.
We were able to provide them with the largest anchor investment of US$150 million out of the US$500 million club issuance. Our Syndication and Placement group structured and documented the transaction, introducing Algonquin to an additional investor who mirrored our mutual relationship-focused values. Thanks to teamwork, we were able to help Algonquin source and raise the capital needed to meet their goals and objectives.
We complement –
“We always strive to do what is best for our partners. When introducing outside investors, we ensure that it is a good fit value-wise.”
LOURENCO NORTON DE MATOS
SENIOR VICE PRESIDENT
SYNDICATION & PLACEMENT
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Pricoa Private Capital (‘PPC’) is a trading name of PGIM, Inc. (‘PGIM’), the principal asset management business of Prudential Financial, Inc. ('PFI'). Pricoa Private Capital registered in Ireland as Pricoa Capital Group (Ireland) Limited, Pramerica Drive, Letterkenny Business and Technology Park, Letterkenny, Co Donegal, F92 W8CY, Ireland. Registered in Ireland under company number: 635793. Authorised and Regulated by the Central Bank of Ireland. In the United Kingdom (UK), and various other jurisdictions in Europe, certain investment activities are undertaken by Pricoa Capital Group Limited, authorised and regulated by the Financial Conduct Authority, (registration number 172071). Pricoa Capital Group Limited is registered in England No. 1331817. The registered office is Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PPC, Pricoa, PGIM and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PFI of the United States is not affiliated with Prudential plc, a company incorporated in the United Kingdom.
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