Fixed Income Notes

Imali Capital has a created a unique platform for the issue of Exchange Traded Notes (ETNs) and Bonds, working in the high-yield and asset-backed venues in both structured finance and cash securities. The Imali team created an S&P BBB rated cash bond structure in 2015, which has been bolstered further today and acts as the springboard for our current position as one of the top-tier providers and placement agents of fixed income notes for private companies. The offering to our clients including and end-to-end solution starting with the tailoring of an optimal fixed income structure amongst our team of experts, listing that instrument in the most efficient jurisdiction and exchange and placing the deal into our network of institutional investors. Primary market issuance services including:

 

Advice

We help cash-flowing, asset-rich businesses access capital through listed debt.

The fixed income notes we structure are designed to be:

  • Senior secured
  • Deliver robust returns
  • Asset backed
  • Rated by a ESMA recognised rating agency
  • Listed on a recognised stock exchange
  • Freely transferable with secondary market liquidity
  • Convertible facility embedded in each structure enabling investors clear line-of-sight over assets pledged

Benefits:

  • Access to capital through our global distribution network
  • Bankruptcy remote structure for efficient ring fencing of assets
  • Flexible options – single or multiple projects with the opportunity to access future funding
  • A choice of international stock exchanges
  • Partnerships in regulated and professional parties
  • Non-diluting capital
Imali Capital Listed Debt Platform

We give our clients the option of a cost efficient, tailor made single or multi-issuance debt programme.

We can assist with both primary and secondary markets.

Primary market issuance service including:

  • Structuring
  • Liaising with transaction counterparties
  • Preparation of legal documentation
  • Liaising with stock exchanges
  • Bookbuilding support
  • RNS communications on launch secondary market services
  • Calculation agent
  • Settlement agent
  • Regular RNS releasese
Standards

Meeting european securities and market authority (“ESMA”) standards.

We consider each transaction individually for key indicators to nesure it meets current investors’.

Demands for simplicity, transparaceny and consistency. These are essential for asset backed securities as the industry moves towards standards set by ESMA. Our analysis includes:

Servicing and enforcement risk

  • Votin and enforcement rights
  • Documentation disclosure and legal review
  • Alginment of interests
  • Fiduciary and contractual responsibilities
  • Transparency to investors
  • Transparency to pricing
  • Recoverability of assets

Collateral risk

  • Nature of the assets
  • Performance history
  • Payment status and historical
  • Default rates
  • Consistency of rules for asset
  • Selection
  • Asset transfer and security
  • Provision of initial and ongoing data

Structural risk

  • Cash flows
  • Currency and interest rate asset and liability mismatches
  • Payment priorities

Monitoring standards

Bond structuring follows a systematic approach and we maintain those standards throughout the lifecycle of the bonds.

  • The bonds are issued by a separate legal entity, as opposed to the sponsor company themselves specifically because these are not intended to be a typical corporate bond. This vehicle is specifically set up to issue debt and bankruptcy remote. This is a term used to describe an entity formed to develop, own and operate a special project while isolating financial risk and minimising bankruptcy risk.
  • Assets are fledged to a well-established trustee
  • The securities are segregated senior secured bond issuance’s under an approved programme

DEBT PLATFORM LIFE CYCLE