Senior Debt
Term, asset and expansion finance from banks and development finance institutions.
Key features- Non-dilutive capital
- Suited to mature firms with predictable cash flow
- Used for refinancing, capex and expansion
Capital & Finance Solutions
Capital raising and structured finance in South Africa
We design liquidity and capital frameworks for mid-market and large enterprises, so that growth is funded without compromising founder control.
Deployment framework
Two tiers of capital.
We arrange liquidity across two capital tiers, with the same modelling rigour for short-term working capital as for complex syndications.
Tier 01
R100k – R10m
Bespoke working capital lines
Fast structures for trade finance, supply chain liquidity and operational needs, without lengthy institutional due diligence.
Trade financeSupply chain liquidityOperational needs
Tier 02
R10m – R50m+
Institutional & syndicated mandates
Multi-party structures involving commercial banks and private credit, for infrastructure and M&A.
Commercial banksPrivate creditInfrastructure and M&A
The capital stack
How the layers fit together.
Most mandates combine more than one layer. The mix is set by cash flow, the asset base and what the owners want to keep control of.
EquityPermanent capital
Owners and investors share in the upside, and rank last for repayment.
Highest cost · last claimMezzanineHybrid capital
Subordinated funding that sits between senior debt and equity.
Higher cost · flexible termsSenior debtSecured lending
Banks and development finance institutions lend against cash flow and assets.
Lowest cost · first claimFinancing instruments
Six instruments, matched to the business.
The best instrument depends on cash flow, the asset base and strategic goals. Choose one to see how it works.
Mezzanine Finance
Subordinated and hybrid capital for when senior debt is exhausted, without immediate founder dilution.
Key features- Fills the gap between debt and equity
- Tailored PIK-style repayment
- Suited to roll-ups and leveraged buy-outs
Equity Raises
Minority or majority placements from private equity, family offices and institutions.
Key features- Strategic investors and permanent capital
- Valuation defence
- Term sheet negotiation
Asset Finance
Secured facilities against equipment, machinery, aviation, maritime assets and fleets.
Key features- Ring-fenced security
- Optional off-balance-sheet structuring
- Keeps working capital free
M&A Finance
LBO facilities and acquisition capital for domestic and cross-border roll-ups, competitor acquisitions and management buy-ins.
Key features- Blended debt and equity tranches
- Reliance on target cash flow
- Execution certainty
Blended Finance
Concessional funds, grants and commercial capital combined to lower the cost of capital for impact and ESG projects.
Key features- De-risks the project
- Suited to green energy, agri-processing and infrastructure
- Navigates multi-party requirements
Financiers and partners
The financiers and partners BlackLeaf works with.
Logos identify the institutions we engage with. They do not imply endorsement.
Execution methodology
Architectural precision.
We negotiate the structure. We do not simply accept standard institutional terms.
The right instrument depends on the defensibility of cash flow, the isolation of assets and the governance the owners want to keep.
Covenant design
We model and negotiate covenants such as DSCR, LTV and interest cover, giving lenders security while avoiding technical defaults in a downturn.
Risk isolation
Trading risk and leverage are kept inside special purpose vehicles, so that the family’s core assets stay protected.
What credit committees test
The questions every lender asks.
We prepare the answers before the question is asked.
Is the cash flow defensible?
Projections that tie to history, and stand up to a stress test.
Are the assets isolated?
Clean entities, clear ownership and a security package that works.
Is governance in place?
Agreements, records and decision-making that a lender can rely on.
Is the information reliable?
A coherent data room, with the documents lenders expect to see.
Who is behind the business?
Management, shareholders and their arrangements, set out clearly.
What is the exit?
A repayment profile matched to how the business actually earns.
Transaction architecture
Execution & support services.
We prepare the groundwork needed to pass institutional credit review.
- Step 01
Modelling & debt sculpting
Financial models with repayment profiles matched to projected cash flow.
- Step 02
Information memorandum
A lender-ready memorandum and a governed data room that answer the likely credit questions in advance.
- Step 03
Capital readiness (BCRP)
Structural and corporate clean-up before going to market, so that an entity defect does not cause a credit decline.
Confidential mandate application
Submit your requirements.
Submit your requirements for a structural briefing.
- Step 01
Absolute discretion
Submissions are encrypted and covered by a non-disclosure protocol, restricted to the Advisory Committee.
- Step 02
Integrated architecture
A full overview lets us plan a unified strategy from the first conversation.
- Step 03
Next steps
A principal contacts you personally. No engagement starts until a mandate letter is signed.
If you are unsure about any field, leave it blank. The advisory team will design the structure during diagnostics.
Resources
Guides to read before you begin.
Practical guides from our team, free to download.
Capital & finance
Capital Raising Readiness Guide
The capital stack, which instrument fits which business, and what credit committees test.
Download PDF12 pages
Capital & finance
Information Memorandum Guide
What goes into a financier-ready information memorandum, with a model structure.
Download PDF11 pages
Capital & finance
Data Room Checklist
A complete folder index and request list for due diligence.
Download PDF11 pages
Related
Related services and products.
Related services
Begin a private conversation
Architects behind enduring family and corporate wealth.
Consult BlackLeafEvery enquiry is handled in confidence