Successor Agent Services
The leveraged loan industry’s most experienced administrative agent, providing a seamless transfer
What are Successor Agent Services?
When an administrative agent resigns or is removed, it can disrupt the orderly administration of a credit facility. To get back to business-as-usual, you have to move quickly to put a neutral, independent successor agent in place. Alter Domus can seamlessly fill that role. In fact, we’re one of the oldest and largest commercially focused administrative agents in the market. Our experienced buy- and sell-side professionals not only have workout and restructuring experience, but they’ve also facilitated some of the industry’s largest and most complex liability management transactions.
Critical considerations for selecting successor or administrative agents
Appoint successor agents to serve effectively in administrative roles while safeguarding interests. Choosing an appropriate successor or administrative agent is pivotal and should be guided by factors such as experience, authority, dedication to the principal’s interests, and the capacity to act promptly upon any necessity. Evaluating their track record, especially their proficiency in managing intricate transactions and adherence to legal standards, is essential. Trustworthiness and communication proficiency should also be key determinants, as the agent is expected to provide ongoing updates. Confidence in their ability to act with due diligence ensures the principal’s decisions are executed effectively, maintaining peace of mind.
Why Alter Domus for Successor Agency
Deep experience
Alter Domus has a dedicated successor agency team made up of seasoned credit professionals that have experience on both the buy and sell side with workout and restructuring experience.
Client focus
The team focuses on developing and maintaining positive and cohesive relationships with management teams, lenders and professionals so the agency transition is smooth and the working relationship is seamless throughout the life of the loan.
Lack of conflicts
Alter Domus does not have any of the inherent conflicts that other administrative agents have because we do not take lending positions nor do we have proprietary trading positions.
Multi-national capabilities
Alter Domus’ Successor Administrative Agency Services platform offers a solution for borrowers and lenders when the existing administrative agent of a syndicated bank loan decides to step down or needs to be replaced on US, European and Asian based credits.
Process facilitation
We help lenders, borrowers and professionals drive and achieve outcomes by facilitating the process and being widely available and accessible, whether it be a simple amendment or a complex restructuring. Our team understands the dynamics that go on in a syndicated bank loan.
Timely trade processing
We understand the necessity of closing bank loan trades in a timely manner. Our responsiveness in the trade closing area is a key component to our superior service offering for large syndicated bank loans.
How we can serve as successor agent
Deal types
- Broadly syndicated loans
- Middle market (club and bilateral)
- Unitranche
Facility structures
- Middle market
- Term
- Delayed draw
- Project finance
- Bridge
- DIP
- Exit
- Mezzanine
Other transaction services
- Equity or LLC member registrar
- Escrow agent
- Stockholders’ representative
Get in touch with our Successor Agency team
Contact us today to learn more about Alter Domus’ Successor Agent Services.
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