KPMG advised Australia’s largest mobile crane operator, Boom Logistics, on the refinance of its $57.5 million syndicated debt facility. Prior to engaging KPMG, Boom Logistics had been through a challenging period due to a downturn in mining activity, which had created some operating and financial pressure on the business.
As part of the transaction, our Debt Advisory team completed a strategic funding options report for the client, bringing together a range of alternative financiers. The result was a 90 percent reduction of Boom Logistics’ debt amortisation profile, extended tenure of up to 5 years, and an improvement in terms.
Given the specialised asset class in which Boom Logistics operates, the transaction also required a detailed due diligence process of Boom Logistics’ financial information and asset base. The solution required bringing together a full range of alternative financiers and careful negotiation to manage a number of different requirements by each stakeholder.
Throughout the transaction, our Debt Advisory team built a very strong relationship with Boom Logistics senior executives, including the CFO and CEO, who provided great feedback on KPMG’s support.
