Debt Advisory And Lender Negotiations

Amend and Extend Advisory for Borrowers and Sponsors

Not every maturity needs a new lender. When the existing lenders know the business, the security is in place and the problem is timing rather than credit quality, an amend and extend can be faster and cheaper than a full refinancing. But lenders do not extend on goodwill. They extend when the borrower presents a credible plan, realistic numbers and terms that improve their position. Financely advises borrowers and sponsors on amend and extend transactions: building the case, designing the proposal, testing alternatives and supporting the negotiation with the lender group.

Financely is an advisory firm, not a lender. Any amendment or extension remains subject to the lenders' approval.

Who This Service Is For

Borrowers with a near-term maturity

Companies whose term loan or revolving facility matures before the business is ready to refinance on good terms.

Borrowers with tight covenants

Companies close to breaching leverage, interest cover or liquidity tests, or already relying on repeated waivers.

Sponsors of portfolio companies

Private equity and family office sponsors that want to protect equity value while a business plan plays out.

Real asset owners

Owners of property, energy or infrastructure assets whose loans mature during lease-up, repositioning or a weak market.

What We Advise On

  • Maturity extensions: moving the maturity date, often with a revised amortisation schedule or extension fee.
  • Covenant resets: new covenant levels and definitions that match the updated business plan, with appropriate headroom.
  • Pricing and fee proposals: what the borrower offers in return, such as margin step-ups, paydowns, additional security or equity support.
  • New money and partial refinancing: combining an extension with fresh capital, junior debt or a partial paydown. See debt-for-equity recapitalization and new-money backstop.
  • Testing the alternative: a parallel view of what a full refinancing would look like, so the borrower knows its fallback before it negotiates. See debt advisory for middle-market companies.

Where the situation goes beyond an extension and needs a broader restructuring, see liability management and recap advisory.

When Amend And Extend Works

An amend and extend is most likely to succeed when the business is fundamentally sound, the lenders are better off with an extension than with an enforcement or a forced sale, and the borrower can show what will change by the new maturity date. It is harder when the lender group is large and divided, when the security is weak, or when the borrower cannot explain how the debt will eventually be repaid. Financely does not set a fixed minimum size; each situation is assessed at deal review.

How The Process Works

  1. Deal review. You submit the facility agreements, compliance certificates, financials and forecast. Financely gives a view on the options and whether an advisory mandate makes sense.
  2. Engagement. A written estimate sets out scope, retainer and success fee. Work starts once it is signed and the retainer is paid.
  3. Diagnosis. Financely reviews liquidity, covenant headroom, debt capacity and the business plan, and identifies what the lenders will focus on.
  4. Proposal. A lender presentation with the updated plan, the requested amendments and what the borrower offers in return.
  5. Negotiation support. Financely supports management and the sponsor through lender meetings and term negotiations, while keeping refinancing alternatives open.
  6. Documentation. Financely works with the borrower's legal counsel through the amendment agreement and the conditions to effectiveness.

What Lenders Need To See

  • Current financial statements and recent compliance certificates.
  • A 13-week cash flow and a longer-term forecast.
  • A business plan that explains how the debt will be repaid or refinanced.
  • The specific amendments requested and the reasons for them.
  • What the borrower and sponsor offer: paydown, fees, pricing, security or equity.
  • Updated collateral information and any valuations.

For the terms lenders typically negotiate in private credit facilities, see the private credit term sheet checklist.

Why Financely

  • Lender perspective. The proposal is built around what a credit committee needs to approve an extension, not just what the borrower wants.
  • A real fallback. Refinancing options are tested in parallel, which strengthens the borrower's position in negotiations.
  • Debt advisory across products. Financely works across corporate, asset-based, real estate and project debt, which helps where a group has several facilities.
  • Written economics. Fees are agreed in a signed estimate before work begins. Legal counsel and other third-party costs are paid by the client directly.

Need More Time On A Loan Or Covenant Relief?

Submit your facility documents, financials and forecast for a review. We will assess whether an amend and extend is realistic and how to approach your lenders.

Request A Quote

Frequently Asked Questions

What is an amend and extend?

An amend and extend is an agreement with existing lenders to push back a loan's maturity date and change other terms, such as covenants or pricing, instead of refinancing with a new lender.

Is amend and extend better than refinancing?

It depends. An extension can be faster and cheaper when the existing lenders are supportive, but a refinancing may give better terms if the market has improved or the lenders want to exit. Testing both is usually the best approach.

What do lenders usually ask for in return?

Common requests include an extension fee, higher margin, partial paydown, tighter reporting, additional security or new equity from the sponsor. The package depends on the risk and the lender group.

Can covenants be reset without extending maturity?

Yes. A covenant reset or waiver can be negotiated on its own, but lenders often use the discussion to review pricing and other terms as well.

Is Financely a lender?

No. Financely is an advisory firm. Any amendment or extension is agreed between the borrower and its lenders and is subject to their approval.

How does Financely charge?

Financely charges a deal review fee, then a retainer and a success fee agreed in a signed estimate before work begins. Legal counsel and other third-party costs are paid by the client directly.

Disclaimer: Financely is an advisory and structuring platform. We do not guarantee issuance, lender approvals, or transaction closing outcomes. All mandates are subject to underwriting, KYC and AML checks, compliance review, counterparty acceptance, and final provider decisions. This page is provided for commercial information only and does not constitute legal, tax, or investment advice.