Client Overview

  • Founded in 2012, the Client is an ASX listed waste technology company
  • The Client uses a modular and portable clean conversion processing plant that converts shredded tyres into saleable industrial products
  • Our Client intends to build its capacity to 20,000 tyres per year

Facility Overview

  • GCI provided an asset finance facility secured by a tyre shredding plant, a tyre crumbing plant and a Thermal Desorption Unit
  • The facility is documented to be able to expand as the business grows
  • The facility fully amortises over 48 months

Commentary

  • GCI was able to work with the Client to fund the innovative technology and expand their QLD operations through a conservatively underwritten debt facility

Providing Value Added Credit

Insights

GCI was able to perform a detailed analysis of the security in order to extend leverage where other providers had not been able to put together a compelling proposal. This included extending the security pool to assets which do not have a liquid secondary market.

Network

GCI was able to work closely with the relevant stakeholders, including the Client’s major shareholder, to come up with a funding proposal that was aligned with the needs of all stakeholders.

Flexibility

The transaction was completed by the NSW deal team, despite COVID restrictions meaning that travelling to physically sight the asset was impossible.

The transaction is flexibly documented to accommodate the future needs of the Client. As the Client grows the facility can be expanded to fund additional assets.