Debt Services for Restructuring & Investor Attraction | EQ

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Leverage D.F. King’s Information Agent and Debt-Related Services team of highly experienced professionals to work directly alongside your company to proactively develop a strategy that reduces exposure and attracts future investors. We know effective debt-identification and restructuring services are essential to success which is why we offer a comprehensive suite of debt services like Debtholder Identification, Consent Solicitation, and Tender & Exchange Offers.

For over 80 years, we’ve been the reliable and logical choice for companies in need of debt-related services. As your trusted advisor, we assure you premium services that provide the industry’s highest standards and are delivered by a team of experts who take a uniquely consultative approach to your needs. With us as your partner, you’ll have our unwavering commitment to your success.

Our Services

Debtholder Identification

In this dynamic market, it is critical to obtain a greater knowledge per share. An influx of new issues into the U.S. debt capital markets has resulted in many debt issuers looking for ways to attract investors, with many companies attempting to proactively build relationships with their debtholders. A key challenge though, is figuring out who the debtholders are, and how to initiate contact. Leveraging our analytical capabilities and access to reliable fixed-income ownership data, we undergo a comprehensive analysis that identifies debtholders on two levels:

  • First, we identify the types of investors who currently own the debt, giving insight into how much of the par value of the debt bond is held by institutional investors, insurance companies, hedge funds, and retail investors, among other groups. This data is critical to gauging a debt’s potential volatility and for planning investor outreach programs.
  • Second, we identify the institutional investors and the underlying funds that comprise their positions. By learning the names of the investors, debt issuers can better understand the composition of their debt and be in a position to increase communication efforts with investors.

Debtholder identification is a crucial component in any debt transaction, consent solicitation, debt tender offer, exchange offer, or complex debt restructuring. Through our Bondholder Identification Services, we help you expertly manage dependent transactions with complete visibility into every aspect of the transaction, including proof of outcome.

Consent Solicitation

Consent solicitations for debt securities are critical to a company’s restructuring efforts. Due to these intense administrative requirements, many companies choose to entrust their consent solicitation process to D.F. King. Our clients rely on us for flawless execution that ensures the proposed changes of the security agreement are adopted.

The process typically begins with D. F. King’s best-in-class Debtholder Identification Services. We then provide clients and their financial and legal advisors with consultative advice on the best way to reach out to security holders and help them develop a strategy for achieving maximum support, including direct solicitation of key contacts at institutional investors, hedge funds, and arbitrageurs. When appropriate, we assist in the planning, implementation, and coordination of focused analyst/investor meetings, as well as financial media outreach to help build support for the initiative.

Tender & Exchange Offers

Our team of professionals has the depth of experience and high-level approach to guide your company and its debtholders through the complexities of debt tender and exchange offers. As your information agent, we provide a range of services that focus on developing a strategy to educate and mobilize your debtholders, including:

• Review and comment on all offer documents
• Breaking down your debtholder base into its components (5% holders, insiders, remaining institutions, remaining retail, and arbitrageurs)
• Providing a detailed list of the top institutions and arbitrageurs for contact and follow-up
• Advising on the timing and content of any required communications and debtholder outreach, including whether any extraordinary communications are required
• Providing tender and exchange agent services
• Preparing reports of tenders or consents received
• Preparing payment reports for principal and interest due
• Preparing payment calculation reports on any payments due under terms of the transaction
• Setting up of the offer through DTC and the custodian banks and brokers
• Projecting tender results
• Remaining in constant contact with debtholders, the depositary or exchange agent and our client and their advisors
• Providing constant analysis and communicate all participation results as they come in, and offer expectations for results through the expiration date

Through a unique combination of our extensive knowledge of these complex transactions, a deeply experienced team of professionals, institutional relationships with key decision makers, and keen analytical capabilities, D.F. King delivers the strategy and insights your company needs to continue moving forward.

Information Afents

Through our Information Agent Services, we provide a greater knowledge per share through a constant exchange of information throughout the transaction by proactively publicizing the transaction, its terms and deadlines, and the issuer’s recommendations to target investors. This includes providing intelligence on acceptance, anticipated final participation rate, and reasons for significant holdouts back to the bidder and its advisory team.

Our team of seasoned senior executives come from extensive investment banking, legal, and corporate governance backgrounds, and average more than 20 years of experience in these industries. Bolstered by our strategic analytical capabilities and uniquely collaborative approach, D.F. King provides year-round advisory and board-quality deliverables to clients.

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