Restructuring the financial model of the Manado Indonesia water concession

We were very happy to help water supply company WMD restructure the financial model of the Manado Water Company.

Refloating the Manado Water Company
The water supply company of the province of Drenthe (WMD) approached us for help in restructuring the financial model for the water supply company operating in the Manado area. The WMD are the concession’s main shareholders and the company was struggling financially. Investments would be needed to rebuild profits and provide the quality of service stipulated in the concession. We helped WMD attract potential lenders and provided them with a reliable negotiation tool to acquire further funding.

Restructuring exposure
Apart from executing a quick scan of potential financiers, Rebel experts also assisted the shareholders with the restructuring of their exposure in the company. This ensured the company’s continued operation while at the same time new capital could be sourced to finance its modernisation. Looking at the size of the project and the amount of money already injected into it, we recognised the shareholders’ need for focused and competitive assistance for the final round of negotiations with potential Dutch lenders.

Advice based on expertise
We have substantial experience in the water business, particularly when it comes to water company performance assessment and regulatory frameworks. Financial modelling is another of our specialties, as are structuring and arranging funding for utility companies. Combining all of these skills, we were able to come up with a solid advisory package for WMD and the Manado Water Company.

FAST and reliable
The main focus of the project was on producing a fully FAST compliant financial model, taking into account the sponsors’ and financiers’ perspectives, and optimising the operational aspects in such a way as to bring the financial implications into relief. The transparency and reliability of the FAST modelling method facilitated the interaction with lenders by providing them with a reliable tool to assess the project.