RB privately originates loans to commit capital in substantial size and owns a considerable and rapidly growing loan book. Our proprietary finance is generally secured against tangible assets; such as commercial real estate, hotels, ships, and infrastructure. We usually issue senior debt for short and medium terms, often at loan to value levels higher than those offered by traditional banks. The underlying security is typically located in the UK, across Western Europe and the US.
RB works alongside select financial institutions across a range of relationships. We partner to issue loans which enable equity sponsors to complete corporate or asset based transactions, including the purchase of NPL portfolios. In addition we collaborate to underwrite or acquire credit risk across senior capital structures which offer borrowers fast and reliable sources of finance. Finally, RB provides certain and quick exit for holders looking to exit or syndicate down credit positions.
RB purchased loans from the Bank of China with a nominal value around $850m. This debt was used to finance three iconic global luxury hotels; the Grosvenor House Hotel in central London, the Dream Downtown New York and the Plaza Hotel in New Year. The loans have now been repaid.
RB has been involved in various private and government auctions of distressed debt. We acquired both senior debt and 100% of the mezzanine position in Marme Inversiones, an issuer with €2.5bn debt and cash flow secured against Santander’s headquarters in Madrid. RB won the auction process led by the bankruptcy administrator before agreeing an exit with Santander.
Our team work through special situations deploying local, legal, sector and credit expertise to gain control of assets, an approach which has been successful for our Italian team.
RB provide speed and flexibility for borrowers typically granting first charge over property assets.
Our resources team have the expertise to execute repo agreements rapidly against a range of commodity assets, including receivables.
RB invests in CMBS, high yield bonds, distressed debt across the property, leisure, financial and shipping sectors. We were particularly active following the 2008 credit crash, and have committed substantial capital since the start of the 2020 pandemic.