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Financial planning

Overview

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Acquisitions, LBOs, MBOs, MBIs and BEE transactions

Term funding for the purchase of the shares, or the business as a going concern, of an existing company, either by:

  • an existing operating company;
  • existing or incoming management; or
  • third party investors such as private equity funds, investment companies and BEE investment companies.

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Expansion finance

Term funding for:

  • those aspects of a large expansion project that may not be catered for by asset or property finance; and
  • large franchise groups and fuel retailers who may wish to refurbish or expand existing stores and sites.

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Ownership and generational transitions

Term funding to restructure the ownership structure of a company either by the company itself or by other existing shareholders such as:

  • private and institutional venture capitalists and private equity funds who wish to realise their investments and exit; and
  • retiring shareholders, family members and deceased estates for succession planning purposes.

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Leveraged Finance International

We have expanded our services beyond South Africa to include other African countries where FNB is represented (Namibia, Botswana, Lesotho, Swaziland, Mozambique, Zambia, Tanzania and Ghana), and Europe including the United Kingdom and Guernsey.

The main focus of these expanded offerings is to follow our clients who are expanding internationally or to extract value and optimally leverage assets that have been accumulated outside the borders of South Africa. Funding is provided in multiple currencies including local currency in each respective jurisdiction: USD, GBP and EUR.

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Leveraged recapitalisations

Term funding to restructure the capital structure of a company:

  • refinance more expensive forms of term debt such as mezzanine, vendor and other junior loans, and preference share capital, with cheaper bank debt;
  • provide liquidity to shareholders by financing distributions to shareholders by way of dividends and share repurchases;
  • repay shareholder loans and share repurchases, and
  • The leveraging of over-capitalised/under-borrowed balance sheets to optimise their capital structure and cost of capital (WACC).

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Other features and benefits

  • We have regionally focussed teams of experienced dealmakers, who are supported by specialised credit and legal teams with the necessary skills to implement complex leveraged and acquisition finance transactions tailored to the specific needs of your business.
  • We offer flexible, competitively priced medium-term debt in the form of senior term loans and preference share funding to enable you in pursue a strategic growth opportunity such as:
    • A business acquisition,
    • A leveraged-buy-out, management-buy-out or buy-in,
    • A BEE transaction,
    • Generational transition or enhanced capacity.
  • Our streamlined processes are designed to provide a quick indication of credit appetite in order to meet deadlines that are an integral part of acquisition finance transactions.
  • Complete financing packages from FNB (working capital, property and asset-based finance, guarantees and pre-settlement facilities) to support business growth and fund operational requirements.
  • Innovative and flexible deal structuring based more on the free cash flows of a business rather than collateral and balance sheet strength.

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Leveraged finance regional representatives

Transactions between R3mil -R12mil

National

Rogerio da Rocha

Cell: +27 (0)72 740 7536
Email: RdaRocha@fnb.co.za

Transactions over R12.5 mil

Gauteng East, South and Central

Charl Jansen Van Rensburg

Cell: +27 (0)82 335 8005
Email: CVanRensburg@fnb.co.za

Gauteng North

Vijay Narayan

Cell: +27 (0)72 991 6199
Email: vnarayan@fnb.co.za

Western and Eastern Cape

David Mackey

Cell: +27 (0)83 300 9411
Email: dmackey@fnb.co.za

Kwa-Zulu Natal

Mark Pullen

Cell: +27 (0)82 820 6280
Email: mark.pullen@fnb.co.za

Inland

Hendrik Nel

Cell: +27 (0)82 374 6365
Email: hendrk.nel@fnb.co.za

Rest of Africa

Maema Morake

Cell: +27 (0)83 588 1531
Email: maema.morake@fnb.co.za

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Documents needed

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Contact your FNB Relationship Manager or the FNB Leveraged Finance provincial office closest to you

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Documents needed

  • Brief overview or profile of the business (background, ownership and management, industry, products and services, niche market(s), operations, key technologies or IP, group structure, etc).
  • Any supporting information that will assist the bank in gaining a better understanding of the business and funding requirements.
    • Company profile
    • Industry
    • Product and marketing information
    • Relevant web addresses and links
    • News clippings
    • Research reports
    • Current or past business plans
    • Budgets and forecasts
    • Management or board packs
    • Financial modelling
    • Property valuations
    • etc.

    • Financial Information

  • Annual financial statements of the company being purchased, and of the buyer if it is an existing business or investment company, for at least the last three years, and latest management accounts if three or more months of the current financial year has elapsed, including debtors and creditors age analyses. If applicable the same information should be provided for any group companies, related parties and other business interests that may be able to support the required funding.
  • Operating and capital expenditure budgets and cash flow projections to the end of the next two full financial years, including details of any changes in the expense structure (new, non-recurring or extraordinary expenses) of the business, pre- and post-transaction.
  • Breakdown of sales by major product line, customer, and those of a contractual or annuity nature (including details of contracts or agreements - nature, duration and remaining term, value, renewal terms, etc.).
  • Balance sheets of each direct and indirect shareholder of the proposed borrower and sureties post-transaction (or finan¬¬cial statements if a company, CC or trust).
  • If not provided by FNB Business, details of existing working capital and asset finance facilities, current exposures to other financial institutions, and details of working capital requirements post-transaction (overdraft, debtor finance, trade and foreign exchange requirements, guarantees, etc.).

    • Transaction Information

  • Details of the proposed transaction and funding requirements:
    • The nature of, and circumstances giving rise to the transaction
    • The transaction price
    • The parties to the transaction (seller, buyer and shareholders of the buyer)
    • The proposed funding structure (ordinary and preference share capital and reserves, shareholder, vendor, mezzanine, bank and other medium-term loan funding) and
    • Timelines.
  • Details of new ownership, board and management structures post-transaction, highlighting measures to be taken to address any implications for management continuity of the exit or retirement of the sellers and key members of management.
  • If available, a copy of signed or draft legal agreements pertaining to the transaction being contemplated (Heads of Agreement/Memorandum of Understanding/Purchase & Sale Agreement), depending on stage of negotiation and completion.

Leveraged Finance

Increase the potential of your business

Leveraged and acquisition finance from FNB enables you to pursue strategic growth opportunities and optimise the financial structure of your business.

What this is

Acquisitions, LBOs, MBOs, MBIs + BEE transactions

Funding for business acquisitions and leveraged buy-outs

Read More

Expansion finance

Funding for organic growth

Read More

Ownership and generational transitions

Funding to buyout existing shareholders

Read More

Leveraged Finance International

Term funding outside South Africa

Read More

Leveraged recapitalisations

Funding to refinance existing debt

Read More

Other features and benefits

Features that benefit your business

Read More

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Qualifying criteria

Documents needed


Contact your FNB Relationship Manager

First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).