Our Client contacted Loeb with the purpose of refinancing senior debt held by their bank. After the senior debt was refinanced, then Loeb would become the sole encumbered lender. However, the forced liquidation value (FLV) of the equipment ultimately fell short of what was needed to satisfy the refinancing.
Loeb was able to offer an alternative solution of paying down a significant portion of the senior debt and securing a senior position in the M&E as collateral.
After pursuing this solution, our Client is able to continue operating without the pressure to liquidate any additional assets.