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Modelos focados na capacidade de reembolso, estrutura de amortização e sensibilidade a taxas de juro. Incluem stress tests e simulações de cumprimento de covenants para apoiar negociações com bancos e optimizar a estratégia de financiamento.
Uma empresa do setor alimentar enfrentava uma redução das suas vendas. Com uma estrutura de custos operacionais em grande parte fixa, a direção antecipava dificuldades no serviço da dívida bancária.
Preparamos projeções mensais de fluxos de caixa, baseadas em pressupostos sobre a evolução dos volumes e das margens por linha de negócio. O modelo permitiu realizar análises de sensibilidade e identificar as necessidades máximas de financiamento nos 18 meses seguintes.
A direção utilizou as projeções para negociar novos termos com o sindicato bancário, o que lhe permitiu continuar a sua atividade.
A Spanish industrial company wanted to raise financing to develop 130MW of greenfield wind plants in Spain.
A semi-annual model was built which included 3 plants projected separately, with market revenue down to EBIT and allowing for with sensitivities to price, production, opex and capex. The model then automatically optimized the debt sizing of both senior and mezzanine debts.
The company was able to measure returns for their investment under different debt sizes, durations and covenants and negotiate the debt raising exercise.
A Spanish group actively pursuing growth by acquisition wanted to present an offer for a 20MW PV portfolio located in Spain and Portugal.
Near identical models were built for each operating company, forecasting market and regulated revenue, opex and existing financing. Post deal refinancing options were also simulated, in order to optimize the structure.
Multiple scenarios were evaluated and an aggregated model with financial statements for all companies and for the group was then used to derive the bid value that would deliver the required shareholder return.
A Spanish fund needed to refinance the senior debt of a 10MW PV plant with a bank syndicate due to a regulatory change with strong negative impact on revenues.
A semi-annual model was built that forecast the regulated revenues under the novel and highly complex regime. Various refinancing scenarios were forecast including swap rate break clauses and repayment profiles optimized to match future cash flow generation.
The analysis for refinancing negotiations was made using a highly flexible debt dashboard to continuously refine the options available and choose the most suitable deal for the company.
A European industrial conglomerate wanted to build an arbitration case for losses incurred on a 750MW portfolio of wind, solar, biomass and hydro plants in Spain.
A highly complex model was developed to calculate multiple scenarios based on the impact of successive regulatory changes on each plant’s cash flows and valuation.
The company’s lawyers used the outputs of the model to back up the claim presented to the arbitration court.