Debt advisory: Helping you execute debt financing solutions

Navigate uncertainty. Maximize outcomes.

An infusion of capital can provide financial stability, accelerate growth or transform the way a company operates. Accessing the right debt instruments and markets to support these capital needs is key.

PwC brings together an integrated set of multi-competency capabilities to advise on all stages of the debt financing life cycle. We can help borrowers evaluate alternatives across the debt capital markets spectrum to achieve the best financing solution and address funding challenges.

Helping organizations raise capital and prepare for life thereafter

Our focus is always on providing a comprehensive, holistic approach to the debt capital raising process. While each offering can be executed on a standalone basis, utilizing the full breadth of PwC’s capabilities facilitates an enhanced outcome for the client’s capital raise. Our debt advisory offerings include:

Capital structure and financing alternatives
M&A and leveraged buyout (LBO) structuring
Debt story development and credit material documentation
Credit rating agency process
Syndication and execution
Environmental, social and governance (ESG) debt issuance

Capital structure and financing alternatives

There are many options when it comes to raising capital, and many avenues companies can take when it comes to choosing types of debt. We can advise and assist with the analysis, assessment, and selection of financing options, aligning with corporate strategic objectives.

M&A and leveraged buyout (LBO) structuring

After an issuer has decided on a path forward, additional complexities arise around how to best structure and obtain financing for the transaction. We can provide a comprehensive exploration of the committed financing process for both private equity-sponsored and corporate transactions. We also advise and develop strategies for:

Structuring of the transaction
Analysis of the request for proposal (RFP) process and investment banking selection
Lender selection analysis for alignment with borrower objectives

Debt story development and credit material documentation

Positioning a company to attract investors can require extensive preparation and thoughtful consideration. We can advise and assist borrowers with:

Developing a ‘Debt Story’ to allow companies to best position themselves to the investment community.
The preparation of legal and marketing materials to ensure best-in-class frameworks.
Leveraging the latest covenant technology included in documentation to make informed decisions and maximize operational and financial flexibility.

Credit rating agency process

The credit agency rating process can seem complicated and ambiguous in times of volatility and for first-time issuers. We can provide insights to issuers on obtaining a credit rating and guide issuers through the formal process by advising on:

Obtaining a credit rating, with a focus on process, timing and information requirements
Methodology and adjustments of the respective credit agencies
The preparation of the rating agency presentation and other documentation
Post-rating correspondence and support

Syndication and execution

Once an issuer has decided to pursue a debt offering, syndication and execution can seem like large hurdles to overcome. We can advise on syndication preparation and lender management, including:

Investment bank selection process, including pitch logistics, RFPs and timelines
Commitment and syndication strategy (tiering, timing, titles and more)
Supporting negotiations among lenders and borrowers

Environmental, social and governance (ESG) debt issuance

Launching an ESG offering or understanding the landscape of ESG debt markets can be a daunting task. We’re here to help provide insights on the current status of ESG in the debt financing markets, as well as advise on ESG financing strategy, including the structuring of key terms related to green, sustainability-linked or social debt.

PwC debt advisory focuses on all phases of the financing process from financing objectives through execution.

Areas of focus

Growth capital
Refinancings
Acquisition financing and leveraged buyouts
Dividend recapitalizations
Working capital

Financing structures

Investment grade / High-yield bonds
Bank / Commercial loans
Institutional leveraged loans
Private credit
Bridge financing
Venture debt
Asset-based financing
Mezzanine / Subordinated debt

Insights

11/12/24

Private equity: US Deals 2025 outlook

As markets improve and activity increases, value creation remains front and center.

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Contact us

Mike Bellin

IPO Services Leader, PwC US

Rob Cohen

Managing Director, Debt Advisory Leader, PricewaterhouseCoopers Corporate Finance LLC

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