Review and Debt Restructure of a Large Beef Production Operation Based in QLD

Review and Debt Restructure of a Large Beef Production Operation Based in QLD

Corporate Finance & Restructuring

April 7, 2014

FTI Consulting Senior Managing Director Ben Waters managed the financial and operational review, and eventual debt restructure, of a large beef production operation based in Northern Queensland.

Situation

  • The property in review was approximately 300,000 hectares and ran 18,000 head of cattle at the time of assessment. The operation produced weaner cattle for the local market and live trade.
  • Management had invested significant time and resources into improving the carrying capacity of the property, in particular improving access to water.
  • Management had requested the secured financier allow capitalisation of interest for 24 months to allow the herd to build up to 24,000 head.

Our Role

  • Mr. Waters was required to review the operation and provide the company’s secured lender with a view as to whether the operation will be able to service the increased debt load if given the opportunity to build further herd scale.

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