The Customer:

$700MM Tier 1 Automotive Supplier

The Complexity:

  • Auto industry faced pandemic challenges due to plant closure, supply, and economic uncertainty
  • The company’s main banks would be unable to consider the financing until a clean audit was available
  • Client engaged an investment banker to secure strategically important capital for the production line
  • Client had delays in producing a clean audit
  • The production line required extensive progress funding and project management
  • Extensive soft costs
  • The OEM required an access agreement in case of supplier default

The Clarity

  • Based on extensive industry expertise, Nexseer was able to secure approval for this project even in the height of COVID uncertainty – including soft costs
  • Nexseer worked with the Client and OEM to document an access agreement that met the needs of all parties
  • Nexseer took an aggressive residual position to manage cash flows
  • Nexseer managed the construction progress fundings over 6 months