top of page
Credit Strategies
Solitaire & Co. employs a multi-strategy approach across the private and public credit spectrum, targeting opportunities that balance yield, structural protection, and risk-adjusted return.
.jpeg)
ILLUSTRATIVE TRANSACTIONS ________
Our firm structures and executes bespoke private credit, mezzanine, and structured finance transactions across diverse sectors including media, financial services, and renewable energy. We specialise in designing secured bond programmes, hybrid debt-equity instruments, and asset-backed financing solutions that balance investor protection with issuer flexibility.
Each transaction showcases our ability to combine legal, financial, and strategic insight - delivering clear risk mitigation frameworks, layered security structures, and tailored covenant packages that meet both growth and capital preservation objectives.
Solitaire & Co.
Illustrative Deals
Vistas Media Capital
Singapore-based media and entertainment company engaged in content production, distribution, and investment across films, streaming platforms, and digital media. The company is expanding into blockchain-enabled equity crowdfunding and offers High Net Worth Individuals the opportunity to invest in content as an alternative asst class while gaining exclusive industry privileges.
Deal Overview
A secured bond program structured to raise funding with a fixed interest rate of 16% per annum, backed by multiple layers of security. The bond has a 12-month maturity period, with an option for a 2-month extension, and will be repaid in a single bullet payment at maturity.
Key Terms
Bond Programme Limit: S$2,500,000 (subject to increase by mutual agreement).
Minimum Subscription: US$100,000 per lender
Purpose of Funds: Debt repayment: US$520,000 | Working capital: US$480,000 | Project financing (content projects for streaming): US$1,500,000
Maturity: 12 months from each subscription, with a possible 2-month extension.
Interest Rate: Fixed 16% per annum
Extended period interest: 2% per month
Security: All-asset debentures (excluding real property) over Vistas Media Capital, VMC Digital Pte Ltd, Vistas Media Pte Ltd | Share charges over VMC Digital Pte Ltd, Vistas Media Pte. Ltd, and shares held by Saga Ventures, representing 72.6% ownership in Vistas Media Capital.
Early Redemption: Lender: No early redemption option. | Issuer: Can redeem early but must ‘make whole’ interest for 10 months.
Default Interest: 18% per annum.
Events of Default Triggers: Non-payment, breach of obligations, insolvency, fraud, or change of control beyond 60%.
Capital C Corporation
Capital C is a lending and financial services company focused on providing unsecured personal and business loans, auto financing, and other credit solutions. The company operates a tech-enabled lending platform, leveraging data-driven credit assessments to serve underserved consumer and SME segments in Singapore.
Deal Overview
A secured bond program with an initial issuance of S$7 million, structured with various tranches, a 36-month maturity, and a bullet repayment structure. The program allows for potential expansion based on agreed financial covenants.
Key Deal Terms
Facility Structure: Secured Bond Programme with structured rights for lenders. | Facility Amount: Various tranches, with a minimum individual subscription of S$100,000 and a maximum of 49 lenders.
Issuance Size: Initial bond issuance: S$3 million | Subsequent S$2 million issuance upon reaching a 4.5:1 debt-to-equity ratio | Further issuance subject to lender approval and financial conditions.
Use of Proceeds: Expansion of unsecured lending and business growth.
Security Package: Personal guarantees from majority shareholders. Share charge over the issuer’s shares.All-asset debenture (excluding real property) securing lender claims. Charge over bank accounts held with a designated financial institution.
Interest Rate: Fixed at 16% per annum for the first 12 months (First Term). After 12 months, the rate floats based on the debt-to-equity ratio. 16% per annum if Debt/Equity is greater than 5:1. 15% per annum if Debt/Equity is less than 5:1.
Maturity: 36 months from subscription, with lender and issuer redemption options under specific conditions.
Repayment Structure: Bullet repayment at maturity.
Investor Protections: Default triggers include revenue and cash flow thresholds, changes in control, and acceleration clauses. This structure provides structured capital deployment while offering lenders a robust security package with downside protection.
bottom of page