bridge-and-acquisition-financinglisted

# Bridge And Acquisition Financing Agent ## When to use Use this when a bidder must show certain funds at signing but cannot raise the permanent capital until after announcement. Typical triggers: a public bid whose offer document must state the cash is committed, an auction where the seller scores certainty as heavily as price, or a board asking what the financing costs if the bond market shuts. Reach for it when the question is whether the buyer can credibly sign, not what the target is worth. ## What it does It produces a financing structure: sources and uses, the committed facilities sized by tranche, the bridge with its securities demand and flex provisions, the takeout into permanent capital, and a cost bridge for what the bridge costs if it funds and stays outstanding. ## Method 1. Size the funding need. Start from uses, not from what the banks will lend. - Uses are purchase equity value, target debt refinanced on change of control, and fees. Sources are cash, committed debt, and any equity or disposal proceeds; the two must tie. 2. Split permanent from bridged capital. Bridge only what cannot be raised at signing. - Term loans, revolvers, and cash fund at close and need no bridge. The bond tranche, the equity issue, and unsigned disposals do, because none can execute before the deal is public. 3. Size the bridge to the worst realistic case, not to the plan. - Bridge every source that is not documented and unconditional at signing, including disposals und