Transaction Advisory
Independent advisory from structuring through closing — pool selection, tranche design, credit enhancement sizing, rating agency engagement, documentation review, and investor syndication support.
What this service provides.
A structured credit transaction closes well when the structure is right before documentation begins. We sit on the issuer or investor side — never both — so pool composition, tranche design, and credit enhancement reflect transaction economics, not arranger preference.
We advise originators (NBFCs, HFCs, fintechs, MFIs) on first-time and repeat securitisations; AIFs on private credit structuring and warehouse lines; and offshore investors accessing Indian credit through onshore or offshore vehicles.
Engagements run eight to sixteen weeks from mandate to closing, with senior involvement throughout.
Built for institutional practitioners.
- Mid-sized NBFCs and HFCs executing first or next securitisation
- Fintech lenders preparing for co-lending, direct assignment, or first PTC issuance
- AIF managers structuring private credit transactions or warehouse facilities
- ARCs and stressed-asset investors working under the new RBI stressed-asset framework
- Foreign investors evaluating or executing offshore exposure to Indian credit
- Corporate issuers considering asset-backed financing or receivables monetisation
How we approach the work.
Pool selection & eligibility
Data-driven construction across vintages, cohort behaviour, concentration, and RBI eligibility — MHP, MRR, and seasoning tested upfront.
Tranche design
Waterfall and sizing driven by cashflow modelling, target ratings, and investor demand — with transparent sensitivity to pool performance and triggers.
Credit enhancement sizing
Cash collateral, over-collateralisation, subordination, and liquidity support sized to rating and investor requirements — not rule of thumb.
Rating agency preparation
Full rating pack, data requests, model reconciliation, and iterative engagement with CRISIL, ICRA, CARE, or India Ratings — including challenging assumptions where warranted.
Documentation review
Commercial review of offer documents, trust deeds, servicing agreements, and deed of assignment from a structuring and economic-alignment perspective.
Stressed asset & cross-border
NPL securitisation under the RBI framework, Security Receipt structuring, and cross-border executions via offshore feeders or Masala bond variants.
What you receive.
- Structuring memorandum with recommended pool, tranche sizing, and credit enhancement
- Cashflow model with scenario and trigger testing
- Rating agency presentation and supporting analytics pack
- Commercial review of transaction documents
- Investor presentation and marketing support
- Post-closing transaction note for the issuer’s internal files
Why Arrowbanc for this work.
Sell-side independent
We do not underwrite, distribute, or take placement fees. Our advice is not contingent on execution through a particular channel.
Full-framework fluency
RBI securitisation directions, MHP/MRR, stressed-asset frameworks, and SEBI’s SDI and AIF regimes — used daily.
Modelling-first
Every structural recommendation is tested against cashflow output. We do not sell structures we cannot model.
Cross-border experience
Direct work on SRTs, CLNs, and European securitisation practice — translated to Indian regulation where applicable.
First-time securitisation for a mid-sized NBFC
A personal-loan NBFC executing its debut securitisation. We delivered the pool selection framework, tranche sizing memo, rating strategy, rating agency negotiation support, and a post-closing transaction note for internal capital planning.
Example for illustration. Identifying details have been generalized or omitted.
Discuss a transaction mandate.
Share the context of your mandate — we’ll respond within two business days.