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Debt syndication is the process of distributing the money advanced in, generally a large loan, to a number of companies or investors.

It is common to use debtdebtdebt syndicationsyndicationsyndication when the loan required, in order to fund a company or save a company from bankruptcy, is several million US dollars (USD). By employing debtdebtdebt syndicationsyndicationsyndication, several banks, investment firms or other companies share both the profits and the risk of making a large loan. A decline in the number of available lenders has complicated debtdebtdebt syndicationsyndicationsyndication. While banks are often the primary lenders, they can be involved in deals with less outlay, thus reducing their risk. Banks are likely to employ debtdebtdebt syndicationsyndicationsyndication, because they are more careful about taking on more risky investments. In fact banks may advance little money but act more as the principals in arranging a deal between several investors. Banks frequently do not underwrite the entire loan, since this would mean they would be advancing all initial risk for a large deal. Some underwriting of debtdebtdebt syndicationsyndicationsyndication is still done by banks, which means that initially, they write the check. The bank then takes the loan to additional investors in an effort to sell part of the loan and thus reduce its outlay of funds. Sometimes underwritten debtdebtdebt syndicationsyndicationsyndication is only final, if the underwriter is able to secure additional financing for the loan required. Thus, choosing an underwriter with a record of being able to put together details and attract other financing companies is helpful in achieving the necessary funds. In debtdebtdebt syndicationsyndicationsyndication other firms that may help share the cost of an investment might be investment firms. However, securities firms, insurance companies, credit unions, or single investors might all share a portion of the risk and advance money for a loan. Some of the largest banks that offer debtdebtdebt syndicationsyndicationsyndication in the US are Wells Fargo, Bank of America and J.P. Morgan. Choosing a bank with exceptional experience in debtdebtdebt syndicationsyndicationsyndication may be of assistance in obtaining a large loan. The current cash debt coverage ratio is one example of a cash-basis ratio. Essentially, the ratio provides a means of identifying the current rate of cash flow while making allowances for the shift in liabilities from one portion of the period to the next. Evaluating the cash flows and their sources, along with calculating the average current liabilities for the period cited, helps to identify any potential problems in the flow of operating capital before the issue has a chance to escalate. Part of the beauty of a current cash debt coverage ratio is that it takes very little to calculate the figure as it applies to a given time period. The formula involves identifying the net cash that has been generated by various operating activities and dividing the net cash by the average current liabilities as they stand for the same time frame. The resulting figure can tell a great deal about the overall financial health of the company, and how the current status compares to the debt coverage ratios for previous periods. The main function of a current cash debt coverage ratio is to understand the current status of liquidity within the company. Unlike some of the other calculations of ratios used in other accounting formulas, the current cash debt ratio does not take into account any type of year ending balance. The focus is on a specific time period, usually most recently completed period, such as a month or a quarter. The same basic formula can also be applied to the current incomplete period, although this is uncommon. Calculating the current cash debt coverage ratio is a simple way to check on the stability of cash flow versus production and other costs as they currently stand. When there appears to be a drop in the ratio in comparison to previous periods, this can serve as a signal that something is amiss. It is then possible to examine all relevant factors since the beginning of the period under consideration and determine what is changed, how severe the change happens to be, and take steps to correct the situation if that action is advisable. From this perspective, the current cash debt coverage ratio can be very important to the ongoing life and health of a business.

Working Capital Term Loan Funding Foreign Currency Loans Restructuring and Re-phasement & Revival Schemes Revenue Securatization Excellent Contacts with Banks, All India Financial & Investment Institutions, Mutual Funds and State Level Agencies and Special Purpose Financial Intermediaries like Exim, DST, TFC etc Clients include Anchor Health & Beauty Care, Vijay Transport, Aarti Organics, Silicon Interfaces, Gala Springs, Gala Brush etc. Equity Placements Angel Funding Private Equity Venture Capital Mutual Funds Excellent Valuation and Research Skills Due Dilligence Expertise Legal/Compliance Skills(Companies Act, SEBI, ROC, Stock Exchange, RBI, FIPB) Clients include Melstar, Amex Information, First-e-services, Compudyne Winfosystems Ltd. Variable Compensation Plans Performance based variable cash compensation plans

Employees Stock Option Plan (ESOP) Sweat Equity Plans HR Manual and Performance appraisal techniques Clients include Zee Telefilms, Satyam Computers, Magnasound, Rolta, Silverline, Cabletron, Ramco Systems, Melstar Tech, Synergy Log-in, Aksh India, Mindteck Advisory Services Pre IPO Advisory Capital Structuring and Financial Restructuring Advisory Strategic Alliances and M&A Clients include Fresenius Kabi,Trigyn Technologies, Anchor Health andBeauty Care, Silicon Interfaces, Asian Star Co., Cheers Interactive Ltd., Mindteck India Ltd. KPMG Structured Finance/Debt Syndication The deliverability and structure of debt is usually key to meeting that long term growth objectives. Our experience and market presence gives us intimate knowledge of the appropriate financing options. Our wide range of advisory services in this domain include: Advising corporations, institutions and sovereign entities on the structure of new debt issues and the refinancing of existing obligations Advising on debt market opportunities and conditions Providing advice and structuring of acquisition finance for different types of corporate transactions including mergers and acquisitions and leveraged buyouts Providing advice on refinancing of acquisitions to replace short-term finance with more efficient long-term approaches from the banking or capital markets Creating and supporting the implementation of tax-efficient financing, including both domestic and cross-border leasing transactions Providing advice on refinancing of asset-based businesses and the design and financing of novel service offerings in vendor financing. In giving you objective advice, we seek to: Support your decision making with clear analysis of available options and approaches Provide market experience in relation to the key debt markets, products and counterparties introducing you whenever needed to key players in the debt capital markets Create a competitive environment Arm you for negotiations with bankers and investors Advise you throughout the transaction process from initial strategy through to implementation Help you analyze your options, address the impact of alternative funding routes on your business and objectives Work with your existing advisory team, providing a specialist perspective on funding related issues Provide skilled resource to do the 'heavy lifting' Share our knowledge of the range of potential financiers, their appetite and their attitude to credit, pricing and structure. Our professionals advice is supported by a true understanding of the issues and challenges faced our clients, connectivity with the financial markets, deep sector knowledge and a skilled negotiation prowess. Mergers& The India growth story has seen a transition in recent times, from being recognized as a destination of outsourcing and foreign investment to being a dominant player in the already red-hot market for M&A in the global arena. An aspiration for continued growth is one of the imperatives behind the Indian globalization, which could be realized by acquisitions or alliances. KPMG Corporate Finance's hands-on practical approach helps facilitate achieve successful transactions. We assist companies in the entire transaction process. Our work includes:

Identification of the business to be acquired Strategic planning of the acquisition Researching and identifying key targets locally and internationally Valuations Transaction structuring, tactics and negotiation Advice on financing, be it debt, equity or other more complex instruments Supervising due diligence, legal and other issues to work towards successful completion Our key success factors have been our in-depth industry knowledge (through sectoral teams) and the ability to effectively coordinate KPMG's other services for the client. Takeovers and mergers / de-mergers For a bidding party, KPMG would cover the strategy, tactics and the formal approach on the client's behalf. We could source and arrange the funding (if required), and assist in reviewing the documentation. KPMG can act as the financial advisor for the total transaction whether the client is the bidder or the target. Business Sales and Disposition In mergers and acquisitions, it has always been more 'glamorous' to buy than sell. However, disposals are an integral part of the strategy of many companies and private equity firms. Whether it is a sale of a division, a subsidiary or a private company, achieving the best possible terms is their primary concern. More often than not, the single largest issue faced by promoters looking to induct an equity partner or selling out their holdings relates to their future strategic direction. KPMG Corporate Finance acts as a sounding board for analyzing a companys future strategic direction. Working with our client, we begin by reviewing the strategy and consider the best possible options and help determine whether a disposal is the most suitable option. From that, we can help a business achieve its objectives by:

Developing the sales strategy as well as establishing price expectations and realistic valuation parameters Involving tax and industry focused professionals to assist in developing the most beneficial environment for the sale Identifying and assessing prospective purchasers in your sector, nationally and internationally using our worldwide network Advising and assisting on the drafting of the disposal information memorandum Assisting with negotiations and guiding the transaction through to closure. We design the process to increase proceeds for the vendor whether by competitive bidding or other methodologies. Throughout the process, we add value by our objective thinking and by working towards the most favorable outcome in the market place from inception to completed negotiations.