Capital Structure Adviser — Cross-Border Infrastructure Holdings

The capital structure assessment

Provide a funding and obligations map, scenario-based recommendations and a prioritised decision memorandum. Clearly separate confirmed facts, management assumptions and unresolved specialist questions. Directors and authorised executives retain responsibility for adopting and executing any change. The adviser will be judged on whether the assessment helps avoid mismatched obligations and supports an implementable funding plan, not on the number of entities or instruments proposed.

Trace obligations to their source

Map the existing and proposed sources of funding, identifying which entity owes each obligation, where cash is generated and what restricts its movement. Trace guarantees, intercompany balances, subordinated instruments and contingent commitments. Highlight circumstances in which an operating setback could migrate through the structure and affect otherwise viable assets.

Relevant experience includes infrastructure corporate finance, cross-border project structures, lender diligence or owner-side capital planning. Applicants should demonstrate an ability to detect risks concealed by consolidated figures and to explain them plainly to directors. They must understand both the financing model and the practical limitations on using cash held in another entity or jurisdiction.

Compare choices with practical constraints

Compare practical options for matching funding tenor, currency and repayment profile to underlying cash generation. Assess the resilience of proposed distribution and debt-service arrangements under delayed receipts, adverse exchange movements and reduced refinancing access. Explain the cost of maintaining liquidity buffers against the consequences of running them too narrowly.

Work with appointed legal, tax and accounting specialists to identify matters requiring their formal advice. Integrate those findings into the financial assessment without representing yourself as providing legal or tax opinions. Any restructuring recommendation must include implementation dependencies, approvals and information requirements, rather than presenting an elegant diagram as a finished solution.

Independence of the financial recommendation

Independence from potential financing providers is important. Disclose relationships that could influence recommendations and distinguish analysis from any separately authorised transaction role.