The Situation

A company specializing in machine tools and precision machinery sought a $20,000,000 credit line before year-end. The goal was to strategically strengthen its balance sheet and improve its financial position. Therefore, to meet strict auditing guidelines, the credit line had to be structured as a true non-recourse facility. This structure allowed the client to enhance financials without taking on additional liabilities. The client is a subsidiary of a publicly traded Japanese company listed on the Tokyo Stock Exchange. Thus, they needed a reliable, flexible credit line to meet short-term financial goals and maintain accounting compliance.

The Solution

Porter was brought into the transaction roughly two weeks after a competing lender had already begun reviewing the opportunity. With just two and a half weeks remaining before year-end, we swiftly executed a non-disclosure agreement and hit the ground running. Despite the time crunch, our team quickly organized a scaled-down field exam and circulated the necessary closing documents within a week—moving at a pace that matched the urgency of the situation.

To meet the tight funding window, conference calls were scheduled across multiple time zones at all hours, ensuring continuous progress. Both Porter and the client were highly motivated to finalize the deal, but with the holidays fast approaching, the clock was ticking. Christmas and New Year’s vacations were put on hold as both teams worked around the clock. Fortunately, on December 31, 2020, we successfully funded the credit line facility—securing the client’s year-end goals and ringing in the New Year with a celebratory toast.