Agency and Trustee Services

Expedited KYC due diligence and weekend contract negotiation and execution enable timely closing of $350 million USD financing for a U.S. based renewable energy company.

Late this past summer, Bank Leumi and a U.S. renewables developer mandated Kroll late on a Friday afternoon to support their transaction as offshore collateral agent. Their problem – they could not find an agent willing to sign up to an international credit agreement and they were looking to close their transaction on the following Monday. Kroll’s Agency and Trustee Services practice quickly stepped in and assessed the transaction, confirming that they could provide the services as described and mobilizing a law firm local to the bank for legal support in negotiation of the documents. Kroll was also able to source due diligence support from its Bangalore team, after business hours in that jurisdiction, to provide review of KYC documentation and get approval from the deals parties in order to move forward with closing.

Although such a timeline would typically be challenging or even unachievable for most collateral agents in the industry, Kroll’s global team, advanced processes and technology enabled the Agency and Trustee Services team to deliver a successful closing in just one business day.

In addition to Kroll being able to gain AML approval and negotiate and sign the deal documentation in just one day, it was also successful at minimizing expenses and administrative burdens for the client by agreeing to an expedited process at a very reasonable fixed fee.

Kroll stepped in quickly and offered an end-to-end solution which helped extend our client relationship and the opportunity to secure future repetitive business. These efforts saved costs and helped to expedite the process, offering a smooth and timely transition. Kroll’s prompt and effective intervention within an accelerated timeframe was instrumental in successfully closing the loan. This serves as another illustration of Kroll’s capacity to excel and demonstrate innovation within the agency and trustee sector.