Deal profile | Gadens advises DCF Asset Management on transaction to lead Rapid rise

Gadens has advised DCF Asset Management on the refinancing and corporate reorganisation of the Rapid Loans Group in a deal worth $50 million.

The Rapid Loans Group is a non-bank lender specialising in personal and small business loans, and will use the additional funds to ramp up its lending activities.

Gadens’ multi-disciplinary team drawn from the Corporate Advisory, Banking & Finance and Restructuring & Insolvency practice groups worked collaboratively to advise DCF Asset Management on all aspects of the transaction and ensured these unique issues were considered through a specialists’ lens. This included drafting and negotiating of the transaction documentation and providing transaction structuring advice taking into account the complexities of the transaction.

In a statement from DCF Asset Management, Ryan Donnar (Head of Originations & Execution) and Adam Howell (Head of Legal & Risk) said they were “pleased to work closely again with Gadens on another important transaction for our fund. The Gadens team did an exceptional job to support completion of this transaction in difficult market conditions. Their commerciality and specialisation has been critical to us finalising a transaction that will secure access to finance for many individuals and businesses in a tough economic climate.“

Practice groups involved: Corporate Advisory, Banking & Finance and Restructuring & Insolvency.

Key team members: The team was led by partners Elliot Raleigh (Banking & Finance), Jol Rogers (Corporate Advisory) and James Roland (Restructuring & Insolvency). They were supported by special counsel Winnie Sinn (Corporate Advisory), senior associate Clementine Woodhouse (Restructuring & Insolvency), associate Harveen Dhaliwal (Banking & Finance) and lawyer Brittany Kluske (Corporate Advisory).

Matter significance: Gadens worked collaboratively across practice groups to successfully advise DCF Asset Management on all aspects of this transaction. This allowed us to ensure a smooth completion of the transaction despite challenging market conditions brought about by the COVID-19 pandemic. The deal provides the Rapid Loans Group with capital to ramp up its own lending to individuals and small businesses to allow access to funding in what is a critical time given the current economic climate. The completion of the deal will help the Rapid Loans Group support small business through this very challenging time.

Law firms involved: Gadens acted for DCF Asset Management, Johnson Winter & Slattery acted for the Rapid Loans Group and Maddocks acted for Deloitte.