Author: Donald Klip

Corporate Private Credit in India: Alternative Corporate Finance for Mid-Market Companies Beyond the Banking System

Indian business executives discussing private credit and alternative corporate financing solutions for mid-market companies

India's banking system has spent a decade working through a significant non-performing asset crisis. The consequence for mid-market corporate borrowers has been a prolonged period of extremely conservative lending standards — and a significant opportunity for private credit. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in India, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in India 

India's public sector banks accumulated enormous non-performing asset books that peaked around 2018–2020. The RBI-mandated resolution process required substantial bank recapitalisation and a fundamental reassessment of corporate lending standards, resulting in a prolonged period of very conservative corporate credit across the PSU banking sector. Foreign-owned businesses and internationally structured entities face additional barriers: FEMA compliance requirements, RBI approval for certain cross-border debt structures, and domestic bank unfamiliarity with international corporate structures. 

The Private Credit Opportunity 

India's private credit market is one of the fastest-growing in Asia Pacific. Both domestic and international private credit funds have increased their India allocations significantly. Sectors particularly active include real estate development, healthcare and pharmaceuticals, manufacturing, logistics, consumer businesses, and renewable energy and digital infrastructure. Cross-border private credit for Indian businesses, structured through Mauritius, Singapore, or other international holding structures, is well-established and provides access to a broader range of international capital. 

GMG Capital Advisory in India 

GMG Capital Advisory arranges private credit for Indian-operating businesses through appropriate offshore structures. We understand the specific requirements of India's cross-border debt regulatory framework and maintain relationships with private credit capital providers actively seeking Indian mid-market exposure. 

India's private credit market has matured significantly. Experienced international arrangers with established India relationships can structure and close transactions efficiently despite the regulatory complexity. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Private Credit in Thailand: Private Credit for Foreign-Owned and Cross-Border Operating Companies

Business owners and finance professionals discussing private credit and cross-border corporate financing in Thailand

Thailand's corporate lending environment presents specific and well-documented challenges for foreign-owned businesses and cross-border operators. Private credit has become the dominant solution for this segment. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in Thailand, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in Thailand 

Thailand's banking system is centralised and conservative. The major banks make corporate credit decisions through centralised committees with limited regional mandate. For foreign-owned businesses, the challenges are structural: the Land Code restricts foreign ownership of land, and the Business of Foreigners Act limits foreign ownership in many business categories. These restrictions, combined with domestic banks' unfamiliarity with cross-border structures, make meaningful bank credit inaccessible for most foreign-operated businesses in Thailand. 

The Private Credit Opportunity 

Private credit for Thai operating companies is primarily structured through offshore holding entities. Singapore-incorporated holding companies with Thai operating subsidiaries are the most common structure, enabling cleaner security registration and access to international private credit capital. Thailand is one of GMG Capital Advisory's most active markets. We have arranged private credit for hospitality and hotel businesses, real estate developers, manufacturing operations, and service businesses across Thailand. 

GMG Capital Advisory in Thailand 

GMG Capital Advisory has deep experience in Thai private credit transactions and maintains established legal relationships across the country. We are one of the few private credit arrangers with genuine in-market expertise in Thailand's specific legal and regulatory environment for cross-border corporate finance. 

Collateral in Thai private credit transactions commonly includes Thai real property held through appropriate structures, equity in Thai operating companies, contracted revenues from international customers, and personal guarantees from foreign business owners. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Private Credit in Philippines: Capital Solutions for Family-Owned and Foreign Businesses

Philippine business owners and executives exploring private credit and alternative financing solutions for mid-market companies

The Philippines has one of the most concentrated banking systems in Asia Pacific. For businesses outside the major conglomerate ecosystems, private credit has become an increasingly important source of corporate capital. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in Philippines, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in Philippines 

Philippine banking is dominated by a small number of large family-controlled conglomerates whose affiliated banks: BDO Unibank, Metropolitan Bank, Bank of the Philippine Islands, and Security Bank, prioritise lending within their own corporate ecosystems. For businesses outside these ecosystems, independent mid-market companies, foreign-owned businesses, and operators in sectors not affiliated with the major conglomerates, access to meaningful corporate credit is limited, slow, and typically conditional on collateral that most mid-market businesses cannot easily provide. 

The Private Credit Opportunity 

Private credit for Philippine operating companies is typically arranged through offshore holding structures, Singapore or Hong Kong entities that lend against Philippine operating assets. Active sectors include business process outsourcing, manufacturing, real estate development, healthcare, hospitality, and agricultural processing. Personal guarantees from HNWI Filipino business owners are frequently significant, the Philippines has a large population of high-net-worth families whose personal guarantees provide meaningful credit enhancement for mid-market transactions. 

GMG Capital Advisory in Philippines 

GMG Capital Advisory has structured corporate private credit transactions for Philippine-operating businesses and understands the specific legal and structural requirements for security arrangements involving Philippine assets and entities. 

The Philippine private credit market is growing. Well-structured transactions with strong security packages can access capital from Singapore-based lenders with genuine Asia Pacific regional coverage. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Private Credit in Indonesia: Private Credit for Foreign-Owned and Domestic Mid-Market Companies

Indonesian business executives discussing private credit and alternative financing solutions for domestic and foreign-owned companies

Indonesia presents both significant opportunity and significant structural complexity for corporate borrowers. Understanding the specific challenges, and how private credit navigates them, is essential for any operating company seeking capital in the world's fourth-largest economy. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in Indonesia, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in Indonesia 

Indonesia's banking system is dominated by state-owned banks: Bank Mandiri, BNI, BRI, and BTN, that prioritise lending to state-linked enterprises and large conglomerates. Foreign-owned businesses face structural barriers that go beyond credit quality: foreign ownership restrictions create collateral registration complications that domestic banks treat as a risk multiplier. The practical consequence is that foreign-owned or foreign-structured businesses operating in Indonesia, regardless of their creditworthiness or asset quality, have very limited access to domestic bank corporate credit at meaningful scale. 

The Private Credit Opportunity 

Private credit for Indonesian operating companies is primarily arranged through offshore structures, typically Singapore or Hong Kong holding entities that borrow against Indonesian operating assets. This structure allows cleaner security registration, more reliable enforcement, and access to a broader range of international private credit capital. Collateral typically includes offshore-held assets, contracted cash flows from the Indonesian operating entity, real property where structures permit, and personal guarantees from HNWI founders or shareholders. 

GMG Capital Advisory in Indonesia 

GMG Capital Advisory has structured and arranged private credit transactions for businesses operating in Indonesia across multiple industries. We understand the specific legal requirements of Indonesian collateral, the implications of the Omnibus Law for foreign ownership structures, and the cross-border structuring required to make Indonesian mid-market transactions work. 

Industries active in Indonesian private credit include manufacturing, agriculture, hospitality and tourism, logistics, and data centre and digital infrastructure. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Private Credit in Malaysia: Alternative Corporate Finance Beyond the Local Banks 

Malaysian business executives reviewing private credit and alternative corporate financing solutions for mid-market companies

Malaysia's mid-market corporate lending environment has tightened significantly as Bank Negara Malaysia has implemented progressive regulatory changes. For operating companies outside the government-linked corporate ecosystem, private credit has become the most reliable source of flexible corporate capital. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in Malaysia, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in Malaysia 

Bank Negara Malaysia has implemented progressive tightening of provisioning requirements and capital adequacy standards. Domestic banks have concentrated their corporate lending books on government-linked companies (GLCs) and large established corporates with deep relationship histories. Independent operating companies, particularly those without GLC affiliations, those in tourism and hospitality, and those with foreign ownership, face significantly longer credit timelines, higher collateral requirements, and in many cases outright declines. 

The Private Credit Opportunity 

Malaysia's private credit market is growing but remains nascent relative to the scale of demand. International private credit lenders with genuine Asia Pacific presence, including those operating from Singapore, are the most active providers of mid-market corporate debt for Malaysian businesses. Transactions typically involve collateral including real property, business cash flows from contracted revenues, and personal guarantees from HNWI business owners. Cross-border structures, with holding entities in Singapore or Hong Kong, are common and enable cleaner security registration and enforcement. 

GMG Capital Advisory in Malaysia 

GMG Capital Advisory has arranged corporate private credit transactions for Malaysian-incorporated and Malaysian-operating businesses across a range of industries. We understand the specific requirements of Malaysian collateral registration and the cross-border considerations for transactions involving Singapore and Hong Kong holding structures. 

Industries particularly active in Malaysian private credit include hospitality and tourism, manufacturing and industrial, healthcare, real estate development, and agribusiness. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Private Credit in Australia: Why Mid-Market Companies Are Going Beyond the Big Four Banks

Australian business leaders discussing private credit solutions and alternative corporate financing beyond traditional bank lending

Australia's banking system has undergone fundamental change since the 2019 Banking Royal Commission. For mid-market operating companies, the consequences have been significant and persistent. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in Australia, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in Australia 

The Banking Royal Commission exposed systemic misconduct across Australia's major banks and triggered a wholesale reassessment of credit culture and risk appetite. The big four — ANZ, CBA, NAB, and Westpac — responded by systematically tightening credit standards and reducing commercial lending exposure in favour of residential mortgages. Regional businesses outside major metro markets, and sectors including hospitality, retail, and property development, have been disproportionately affected. Minimum deal sizes at which major banks will commit dedicated relationship banking resources have risen substantially. 

The Private Credit Opportunity 

Australia's private credit market is the most developed in Asia Pacific outside Singapore. A growing number of domestic and international private credit lenders are active in the Australian mid-market, and deal volumes have grown consistently as bank credit has contracted. Private credit is particularly active in sectors where banks have imposed explicit restrictions: hospitality, real estate development, agribusiness, manufacturing, healthcare, and resource-adjacent industries. Cross-border structures — Australian companies with New Zealand or Southeast Asian operations — are a particular area where private credit outperforms bank alternatives. 

GMG Capital Advisory in Australia 

GMG Capital Advisory is active across the Australian market and has arranged private credit transactions for Australian-incorporated and Australian-operating businesses across a range of industries. We cover transactions from $10M to $100M across all major Australian sectors. 

Australian mid-market businesses with strong asset backing and clear repayment plans are well-positioned to access private credit. The key is working with an arranger who has established relationships with lenders actively seeking Australian exposure. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Private Credit in Singapore: What Operating Companies Need to Know About Corporate Private Credit 

Singapore business executives discussing corporate private credit and alternative financing solutions for mid-market companies

Singapore is Asia Pacific's premier financial hub and home to some of the most sophisticated corporate borrowers in the region. It is also a market where mid-market corporate credit has become increasingly difficult to access through the conventional banking system. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

For operating companies in Singapore, private credit has become the most reliable source of corporate capital when banks cannot serve the full structure. 

The Banking Environment in Singapore 

Singapore's three major local banks — DBS, OCBC, and UOB — have responded to the Basel III and IV environment by prioritising wealth management and private banking, large institutional corporate and trade finance, and retail mortgages. Mid-market commercial credit is increasingly routed to specialist credit business units with longer timelines, more restrictive terms, and higher collateral requirements than relationship banking once provided. Foreign-owned businesses and cross-border structures face additional scrutiny. Companies with holding entities in other jurisdictions, or with operating subsidiaries across Southeast Asia, frequently find that Singapore bank credit committees lack the regional mandate or appetite to underwrite the full structure. 

The Private Credit Opportunity 

Singapore's position as the region's leading financial centre makes it the natural booking centre for private credit transactions across Asia Pacific. The legal framework is robust, contract enforcement is reliable, and the regulatory environment for non-bank lenders is supportive. For Singapore-incorporated or Singapore-based operating companies, private credit is available across the full range of transaction types: bridge financing, acquisition finance, working capital, 

recapitalisation, and special situations. Collateral typically combines real property, business cash flows, and personal guarantees from HNWI business owners. 

GMG Capital Advisory in Singapore 

GMG Capital Advisory is headquartered in Singapore and conducts the majority of its Asia Pacific corporate private credit business from the city-state. We have deep relationships with private credit capital providers across the region and bring institutional-grade underwriting to transactions of $10M–$100M that the major banks no longer find economic to service. Contact us for a preliminary assessment. 

Singapore's private credit market is one of the most active in the region. Well-structured mid-market transactions can receive term sheets within five to ten days of a first conversation with an appropriately positioned lender. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Refinancing Away from Your Bank: How to Replace a Corporate Facility with Private Credit 

CFO reviewing private credit refinancing options to replace an existing corporate bank facility

A practical guide to replacing a bank credit facility with private credit: when to do it, how to structure it, and how to ensure a smooth transition. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

Refinancing a corporate debt facility away from a bank and into private credit is one of the most strategic decisions an operating company CFO or business owner can make in the current Asia Pacific lending environment. Many businesses approach refinancing reactively. The most successful refinancing transactions are proactive ones. 

The best time to refinance away from your bank is before your bank tells you to. The second best time is today. 

Why Businesses Refinance Away from Banks 

Reactive refinancing — bank-driven: The bank has withdrawn or reduced the facility. Covenant or pricing changes are unworkable. The facility is maturing and the bank will not renew on acceptable terms. 

Strategic refinancing — borrower-driven: The business has outgrown its bank's appetite. The bank's covenant package constrains the growth strategy. A specific transaction requires capital the bank cannot provide. 

The Refinancing Process Step by Step 

Step 1: Define the refinancing requirement precisely 

Total outstanding debt, maturity dates, existing covenants, prepayment penalties, security registered. This information drives the structure of the replacement facility. 

Step 2: Prepare the business documentation package 

Audited financials for the last two to three years, current management accounts, cash flow projections, asset schedule, corporate structure chart, and a clear description of the business. 

Step 3: Engage a specialist early 

For mid-market corporate refinancings in Asia Pacific, engaging GMG Capital Advisory at the outset saves significant time and typically results in better terms. 

Step 4: Receive and negotiate term sheets 

A well-presented refinancing opportunity will typically generate term sheets from one to three lenders within two weeks. Key parameters are all subject to commercial negotiation before signing. 

Step 5: Due diligence and documentation 

For well-prepared borrowers, due diligence can be completed in two to three weeks. Documentation follows in a further one to two weeks. 

Step 6: Settlement and security transfer 

The existing bank facility is repaid from the new facility drawdown. Existing security registrations are released and new security is registered. In most jurisdictions this can be coordinated to occur simultaneously. 

What Changes When You Move from Bank to Private Credit 

Direct lender access: You deal with the principals making decisions, not relationship managers relaying information to invisible credit committees. 

Covenant flexibility: Private credit covenant packages are typically incurrence-based. The business has significantly more operational freedom. 

Structured for your business: The facility is structured around your actual business, your cash flow cycle, seasonal patterns, growth plans. 

Higher cost, lower friction: Private credit carries a higher interest rate than bank lending. But the elimination of maintenance covenants, speed of decision-making, and structural alignment often more than justify the premium. 

A well-managed refinancing from bank to private credit for a mid-market operating company in Asia Pacific typically takes four to eight weeks from first lender engagement to drawdown. Contact GMG Capital Advisory for a preliminary assessment. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series

Corporate Rescue Finance and Turnaround Capital: Private Credit Solutions for Companies Under Pressure 

Corporate turnaround finance meeting discussing private credit solutions for a business facing liquidity pressure

When a business faces a sudden liquidity crisis, a debt maturity, or a period of underperformance, private credit can provide the capital and the time needed to stabilise, recover, and rebuild. 

Published by 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

30 years of institutional finance. Former hedge fund founder. Senior roles at top global investment banks. GMG Capital Advisory arranges private credit and special situations finance of $10M–$100M for operating companies across Asia Pacific. 

[email protected] | +65 9773 0273 | Singapore · Hong Kong | Asia-Pacific 

Not every financing need comes from a position of strength. Some of the most important corporate finance transactions are those arranged when a business is under pressure, facing a sudden cash crisis, a debt maturity it cannot refinance in time, or the aftermath of a restructuring. 

Rescue finance is not about writing off a bad situation. It is about recognising a recoverable one, and moving fast enough to matter. 

What Triggers a Rescue Finance Requirement 

Bank facility withdrawal: A bank withdraws a credit facility with short notice. The business may be fundamentally sound, the problem is the bank's portfolio decision. 

Debt maturity crisis: An existing debt facility is maturing and the business has been unable to arrange refinancing in time. Days from a technical default, the business needs bridge capital. 

Covenant breach: A bank covenant has been breached. The bank has demanded repayment or a renegotiation the business cannot immediately satisfy. 

Sudden liquidity shock: A large debtor defaults. A major contract is cancelled. An unexpected cost event depletes cash reserves. 

Post-restructuring stabilisation: A business has completed a formal restructuring but cannot access bank credit because of the history. 

Operational disruption recovery: COVID, supply chain disruption, or a significant operational setback has depressed trading performance. Private credit lenders 

can look through historical underperformance to the current and forward trading position. 

How Rescue Finance Is Different 

Speed is paramount: Rescue situations rarely have the luxury of a four-week due diligence process. Experienced lenders can make preliminary credit decisions within 24–48 hours. 

Incomplete information is normal: Experienced lenders work with management accounts, projections, and site visits rather than requiring complete audited financials before forming a view. 

Forward-looking underwriting: The most important question is not what happened in the last three years but what the business looks like in the next 12–18 months. 

Pricing reflects risk: Rescue finance is priced to reflect the elevated risk and complexity. The relevant comparison is the cost of the facility versus the cost of not having it. 

The most important advice for a business facing a rescue finance situation: move quickly and be transparent. GMG Capital Advisory can give you an honest assessment of what is possible within 24 hours of receiving your information. 

About GMG Capital Advisory 

Donald Klip | Co-Founder, Global Mortgage Group | Head, GMG Capital Advisory 

Donald Klip has 30 years of institutional finance experience spanning hedge fund management and senior roles at the world’s top global investment banks. GMG Capital Advisory specialises in arranging and structuring corporate debt financing of $10M–$100M for operating companies, asset owners, and project sponsors where conventional bank lending is unavailable, insufficient, or too slow. We operate across 23+ jurisdictions in Asia Pacific. 

www.gmg.asia | [email protected] | +65 9773 0273 | Singapore · Hong Kong 

The Debt Desk 

Corporate private credit intelligence for Asia Pacific’s $10M–$100M middle market. Published by GMG Capital Advisory. Part of the Private Credit Asia content series. 

www.gmg.asia | Read all 41 articles in the series