For the transaction, the firm put together a team comprising experts from several practice groups
Gadens has lent a helping hand to DCF Asset Management in a $50m refinancing deal.
The transaction is for the benefit of non-bank lending company Rapid Loans Group, which is also undergoing a corporate reorganisation. The company will be utilising the capital to boost lending activity.
Given Rapid Loans Group’s focus on personal and small-business loans, the success of the deal could help small businesses weather the economic storm created by the COVID-19 situation, Gadens said in a 27 April statement.
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“The deal provides the Rapid Loans Group with capital to ramp up its own lending to individuals and small businesses to allow access to funding in what is a critical time given the current economic climate,” the firm said.
To advise DCF Asset Management throughout the different aspects of the deal, Gadens pulled together a team of experts from its corporate advisory, banking and finance and restructuring and insolvency practices. The team drafted and negotiated the transaction documentation in addition to advising on the structuring of such a complex transaction.
Partners Jol Rogers, Elliot Raleigh and James Roland led the team, supported by special counsel Winnie Sinn (corporate advisory), senior associate Clementine Woodhouse (restructuring and insolvency), associate Harveen Dhaliwal (banking and finance) and lawyer Brittany Kluske (corporate advisory).
“The Gadens team did an exceptional job to support completion of this transaction in difficult market conditions. Their commerciality and specialisation has been critical to us finalising a transaction that will secure access to finance for many individuals and businesses in a tough economic climate,” said DCF Asset Management heads Ryan Donnar (originations and execution) and Adam Howell (legal and risk).
Johnson Winter & Slattery acted for Rapid Loans Group, while Maddocks represented Deloitte in the deal.
In April, Gadens’s corporate advisory and banking and finance experts assisted in the acquisition of the largest field marketing provider in Australia and New Zealand.