Capabilities

What we do

Four disciplines, one question in each: what does this transaction generate, and what can that support?

Disciplines

What we do

Project Finance

Long-dated capital for assets that generate their own repayment.

Empyrean arranges limited- and non-recourse structures for infrastructure, energy and industrial projects, where repayment is carried by the cash the asset itself produces rather than by the sponsor's balance sheet.

  • Greenfield and brownfield development
  • Construction through to take-out
  • Refinancing of existing project debt
  • Sponsor equity and mezzanine layers
Where finance sits in the life of a project finance transaction.

Trade Finance

Working capital that moves with the cargo.

Instruments and facilities that close the gap between shipment and settlement, so an exporter is not financing its buyer and an importer is not paying before it can sell.

  • Documentary letters of credit and standby LCs
  • Pre-export and post-import facilities
  • Receivables discounting and forfaiting
  • Inventory and warehouse-receipt structures
Where finance sits in the life of a trade finance transaction.

Contract Finance

Capital raised against a signed obligation to pay.

Where a creditworthy counterparty has contracted to pay, that contract can carry finance. Empyrean structures facilities against awarded contracts, supply agreements and offtake.

  • Awarded public and private contracts
  • Supply and offtake agreements
  • Performance and advance-payment support
  • Mobilisation and execution capital
Where finance sits in the life of a contract finance transaction.

Monetization

Turning held instruments into usable liquidity.

Assessment and structuring around bank instruments and receivable assets, with a candid read on what is actually monetizable and what is not.

  • Bank guarantees and standby LCs
  • Sovereign and corporate instruments
  • Structured note and receivable positions
  • Feasibility review before any mandate
Where finance sits in the life of a monetization transaction.

Process

How we do it

Four stages. A file's position is stated at each one, including when the answer is no.

  1. Review

    The transaction, amount, tenor, counterparties and available security are assessed for whether the structure holds together as presented.

  2. Indicative structure

    If it is workable, an indicative structure sets out amount, tenor, security, and the conditions that would have to be satisfied.

  3. Diligence and structuring

    Documentation, counterparty and security review, in parallel with funder engagement. This is where most timetables are won or lost.

  4. Close

    Final documentation, conditions precedent, and drawdown against the agreed schedule.

What a file has to contain

  1. The transaction. What is being financed, for whom, and in which jurisdictions.
  2. The amount and tenor. How much, drawn over what period, repaid from what.
  3. The counterparties. Who pays, who performs, and what their standing is.
  4. The security. Assets, contracts, instruments or receivables available to support it.
  5. The status. What is signed, what is conditional, and what is still being negotiated.

Empyrean arranges and structures; capital is provided by funders and institutions. Nothing here is a commitment to arrange or provide finance.