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Guarantees & Credit Enhancement

Risk-sharing instruments that unlock capital and improve terms

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Matching project risk to public, export credit, and development finance instruments

Coordinating providers whose mandates and documentation standards differ

We structure guarantee and credit enhancement solutions that make projects bankable — working with public guarantee programs, export credit agencies, development finance institutions, and commercial insurers.

In US and cross-border transactions, credit enhancement is often what turns a viable project into a financeable one: public programs, export credit support for equipment and services, and development finance cover for the emerging-market side of a deal. Each carries eligibility rules, documentation standards, and conditions that must be met before it responds.

Credit enhancement, public guarantee programs, export credit support, and risk-sharing structures for domestic and cross-border projects across the Americas.

Guarantees & Credit Enhancement

Risk-sharing instruments that unlock capital and improve terms

Guarantee waterfall allocation

How risk is distributed between sponsors, guarantors, DFIs, and commercial capital providers.

Risk allocation

Sponsor

First-loss equity

Guarantor

Partial credit guarantee

DFI

Concessional tranche

Commercial

Senior debt / bonds

Cumulative allocation of exposure — the four tranches together cover 100% of structured risk.

Services & capabilities

What we deliver

Discuss this advisory pillar with our team.

Capability detail

Public guarantee programs

Advisory on federal and state guarantee and support programs — eligibility, conditions, and the process behind them.

30%+

Cost reduction

Typical improvement in financing terms with guarantees

10yr+

Tenor extension

Beyond commercial market limits with credit enhancement

How we've helped

Credit enhancement

Guarantee package for a cross-border energy transaction

We structured a risk-sharing facility combining export credit support with development finance cover — extending tenor and reducing the weighted cost of capital enough for the transaction to clear credit approval.

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Our approach

A disciplined approach to capital advisory

We match project risk to the instruments actually available — public, export credit, development finance, and commercial — then negotiate documentation so the cover responds when it is called.

Eligibility

Map project risk to available sovereign, DFI, ECA, and multilateral guarantee programs and document additionality.

Design

Structure risk-sharing layers — first-loss, pari passu, partial cover — integrated into the overall financing stack.

Negotiate

Manage term sheets and legal documentation with guarantors and senior lenders to avoid covenant conflicts.

Close & report

Support financial close conditions and ongoing reporting to guarantors through the life of the instrument.

Client outcomes

  • Projects that reach financial close with improved terms and extended tenor
  • Risk allocated clearly between sponsors, lenders, and guarantors
  • Guarantee structures documented to the standards each provider requires
  • Lower cost of capital through credit enhancement placed where it counts

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Discuss your mandate

Discuss this advisory pillar with our team.