Raising new debt on favourable terms, or renewing existing facilities, has become tougher, even for the strongest borrowers.
In today's conditions, access to financing as well as the conditions of the financing accessed provide an important competitive advantage for companies. Due to tightening market conditions, even the strongest companies may experience difficulties in accessing the right financing.
With our local team of experts and international experience, KPMG Türkiye provides professional services on issues such as obtaining new financing, improving the terms of existing financing, and managing relationships with lenders. At KPMG Türkiye, we also assist our clients with financial restructuring, syndicated loans, project finance loans, sustainable indebtedness level determination, independent review & monitoring report, negotiations with lenders, working capital loans and acquisition financing.
Borrowers need to realistically appraise the nature of their present banking relationships, evaluate alternatives, understand their true cost of capital, and approach debt in the context of an effective overall capital management strategy.
Poorly structured debt facilities can result in reduced profitability, increased financial risk and wasted management time.
Boards, and their CEOs, CFOs and treasurers increasingly appreciate the need for an independent view on important funding decisions and advice on funding strategies, debt procurement and capital management.
How KPMG can help
KPMG can help with analysing, structuring, lead arranging and executing across the entire spectrum of debt products.
Capital Structure Planning
Align the capital structure with long-term strategic goals
Financing Options and Alternatives
Conduct a detailed credit assessment and debt capacity analysis, evaluate market-based funding options and advise on possible terms available
Finding Debt and Refinancing
Provide structuring advice and assist in the use of debt instruments in all markets
Acquisition and Growth Funding
Develop and execute funding strategies for M&A initiatives, strategic growth opportunities and large capital expenditure projects.
Credit rating evaluation and advisory
Assist in the formal credit rating process, assess likely credit rating outcomes and advise on business and capital management initiatives designed to enhance credit profiles.
Restructuring and negotiation
Help clients manage lender relationships, negotiate covenant adjustments and facility extensions as well as advise on restructuring and recapitalisation options.
Comparative Evaluation & Benchmark
Provide 'arm's length' benchmarking of debt levels, terms and pricing for related party transactions such as tax, audit and governance compliance purposes.
Debt Advisory services and insights
Debt Counseling
At KPMG Türkiye, we help you choose the right financing sources among different types of debt products and, if necessary, diversify your financing structure to utilize these products.
Companies need to realistically assess the nature of their existing relationships with banks, understand their true cost of capital and approach borrowing as part of an overall and effective capital management strategy.
Borrowing that is not properly structured can reduce profitability, increase financial risk and waste management time.
Boards of Directors and their Chief Executive Officers, Chief Financial Officers and treasurers now increasingly need an independent view on key funding decisions and funding strategy recommendations, borrowing and capital management.
We have expertise in many debt markets. These include:
— Bank loans - club, syndicated and bilateral loans
— Debt securities, government bonds, corporate bonds, eurobonds, lease certificates and convertible bonds, exchange- traded and private placements
— Alternative credit providers
— Leveraged finance
— Asset-based financing
— Project financing
— Structured finance
— Real estate finance and real estate certificates
With our experienced Debt Advisory team, we help you to identify the right sources of financing from a range of different debt products and then help you to make the best use of them.
Operational and Financial Condition Improvement
When you need to solve operational or financial problems and improve your performance, our experts help you prioritize your issues and focus on the right path.
In this rapidly changing environment, every firm faces challenges. Each step in the wrong direction can have a serious impact on your organizational performance and firm value. With KPMG's integrated team of experts, we guide you through difficult times to deliver real results for your stakeholders.
Operational Restructuring
To overcome operational or financial challenges and improve performance, you need to quickly stabilize your cash and liquidity positions and take a realistic view of your available options.
We offer a tailored approach to stabilizing poorly performing companies by identifying opportunities for strategic, operational, organizational and financial change and leveraging them to deliver real results. By assessing your liquidity position and creating a stakeholder management plan, we help lay a solid foundation for a solution.
With our integrated team of experts, we help you focus on the key questions to achieve operational optimization:
— Identifying options: How can I evaluate my options quickly and efficiently?
— Stabilization: How can I stabilize my business and assess my financial situation?
— Solution path strategy: What are the financial gains provided by various options?
— Implementation: How can I ensure that the remedy plan is fully implemented?
— Value capture: What are the risks and costs associated with each pathway, including contingency plans?
Financial Restructuring
When a firm experiences financial difficulties, stakeholders often need additional information or resources to help reassure them. We help you understand the complex environment of borrowers, lenders and shareholders and manage stakeholder communications to stay ahead of issues and make the best decisions. We help you assess your short-term liquidity requirements and actions to quickly protect your assets and address potential risks that prevent you from stabilizing.
We prepare the Independent Business Review and Monitoring Report ("Independent Business Review", "IBR") you need in your restructuring processes and assess your current financial situation as an independent and objective party.
With our integrated team of experts, we help you focus on the key issues in your corporate restructuring to achieve sustainable operational and financial change:
— Assessment and stabilization: Do I have sufficient liquidity to continue my operations?
— Assessing options: Do I know what I did wrong and how can I fix it?
— Negotiations between stakeholders: How can I keep everyone in the discussion?
— Development of options: Which sustainable capital structure provides the best prospects for success?
— Implementation: How can I build consensus across all stakeholder positions to implement the new capital structure?
— Continuous monitoring: How can I ensure that the business is supported by improvements?
Controlled Liquidation Strategies
When a firm goes through a difficult period, the management team faces many competing challenges. In such situations, we can help you assess your situation and, if necessary, develop a practical liquidation plan. Working with you and your stakeholders, we can help you find a way to maximize existing value. We can help you assess the impact and risks of various options and prepare a detailed strategic plan to optimize stakeholder positions. We support you in bringing your firm back to a healthy and sound financial position.
With our integrated team of experts, we enable you to focus on the main questions through the development, implementation and completion of a payment case.
— Businesses in distress: How serious is the problem?
— Controlled liquidation planning: What are my options?
— Start of the controlled liquidation process: What to do when my firm officially enters a protection process?
— Implementation: How can I maximize the value I get?
— Exiting the formal process: How can my firm get back to normal?
Capital Counseling
With our KPMG integrated team of experts, we guide you through the process to help you optimize your capital structure in line with your business strategy.
Sustainable growth requires a strategic approach to defining your capital financing objectives and understanding the options for debt financing, intermediate financing e.g. mezzanine and equity financing (e.g. IPO) in light of private and capital market sources.
Our Capital Counseling unit has the experience, insight and market awareness to provide holistic and conflict-free advice aligned with your strategic objectives. We offer assistance from the initial assessment through to the successful execution of your strategy by finding capital. We can help you raise capital through a wide range of financing methods, either direct, such as a public offering of shares, a hedge fund investment, or mezzanine financing. Our team supports you not only in deciding which of these financing methods is right for you and how it can be provided, but also in the preparation stage for these financing methods.
Through clear and consistent communication, we can help you develop and strengthen investor support for financing agreements.
Our integrated team of experts can help you focus your inquiries on developing and implementing capital structuring transactions and finding capital that meets your objectives.
— Strategy and capital structure: How can I increase shareholder and stakeholder value?
— Identifying options: What sources of financing (debt/equity) are available?
— Financing contract: How can I get the best conditions?
— Financial closure: How can I manage communication?
— Continuous stakeholder management: How can I manage stakeholder communications to maintain lender and shareholder support? You can find answers to your questions and other concerns by contacting one of our experts.
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