Neu Capital acted as sole debt advisor to Spenda, securing a $50m debt warehouse facility.
Spenda, is an ASX-listed integrated financial technology company providing digital trading software, a broad range of B2B payments and integrated credit solutions to buyers and sellers in the supply chain process. With the mission to transform fast, error- free digital efficiency and boost cash flow across the entire supply chain.
Spenda were seeking to refinance their existing facility which was both inflexible to new products and did not provide the growth capital required.
The total refinance requirement was A$25m and a further $25m of growth facility was secured.
Neu Capital served as debt advisor, completing the structural work necessary to attract institutional debt capital. Additionally, sourced, negotiated, and implemented specific funding terms with suitable institutions.
Neu Capital engaged with global and local credit funds to source debt financing to refinance restrictive local funders and accelerate further growth.
A prominent Australian private credit fund provided capital who most aligned with the company.
The facility enables both Buyer and Supplier finance streams in line with the Company’s growth strategy.
Flexibility: The facility negotiated by Neu Capital enabled greater flexibility for new product introductions.
Stronger Growth: SL was able to pursue greater market opportunities with no warrants restricting growth.
The newly negotiated funding terms offered greater advantages compared to existing facilities, empowering the Company to boost its net margin and pursue larger deals in alignment with its credit policy guidelines. This expansion of available capital enhances the Company's ability to lend to customers while facilitating accelerated payments throughout the supply chain. By providing capital to goods suppliers on near-real-time terms, the Company strengthens its position to fully capitalize on revenue streams from existing customer contracts.
The company will continue to focus on existing channels in:
