Advisory Overview

Debt & Capital Advisory

We provide independent debt and capital advice to corporates, sponsors and non-bank financial institutions. Our team supports boards and executive teams in structuring, arranging and optimising capital sourced from banks, capital markets and private credit — with a focus on discretion, analytical rigour and trusted execution.

Our Approach

Our approach is defined by senior involvement, disciplined execution, and a credit-led perspective shaped by decades of experience in banking and advisory roles.  What you can expect:

  • independent advice
  • clear decision support
  • discretion and confidentiality
Independent, unbiased advice

We provide advice aligned to the client’s objectives and do not have associations with banks or lenders.

Senior-led execution

Engagements are led by experienced senior advisors from start to finish, with clear accountability throughout.

Bank-trained credit lens

Having worked within banks for decades, we understand how lenders assess risk and make credit decisions, helping position transactions efficiently and credibly.

Deep lender relationships

We leverage long-standing relationships across banks, private credit funds, and alternative lenders to run targeted processes and create competitive tension where appropriate.

Discretion and discipline

We run structured processes that preserve management time, manage stakeholder communications carefully, and maintain confidentiality.

Solutions driven

Our expert and experienced team thinks laterally and navigates complexity to design solutions and deliver successful outcomes for our clients.

Debt Advisory Capabilities

Corporate Financing

Lead financing processes across bank and non-bank markets, including lender education and selection, term sheet negotiation and execution to financial close. Focus on pricing, flexibility, covenants and lender diversification. Deep expertise in structuring convertibles, hybrids and other innovative funding structures.

Acquisition & Leveraged Finance

Advise on acquisition, recapitalisation and event-driven financings, including senior debt, mezzanine and private credit / unitranche solutions. Support structuring, market engagement and lender negotiations.

Securitisation

Establish and optimise securitisation and warehouse funding structures, including facility design, key term negotiation and supporting materials to drive efficient approvals.

Asset Finance

Advise on asset-backed and collateralised funding solutions including borrowing base facilities, ABL, property-backed structures and other secured debt solutions aligned to the underlying asset profile.

Project Finance

Support project and infrastructure financings, including debt structuring, lender processes and documentation support. Advice tailored to project cash flows, security packages and stakeholder requirements.

NBFI Funding

Assist NBFIs to structure and implement tailored funding structures including hold co debt facilities, asset-backed funding solutions, warehouse funding structures, senior and mezzanine financing and term securitisations.

Selected Case Studies

  • ASX-Listed Industrial Group

    Situation
    Earnings pressure, ESG headwinds and legacy facility terms meant existing bank debt was increasingly misaligned with the Group’s strategic direction and prevailing market conditions. The capital structure lacked flexibility and required modernisation.

    Advisory
    Advised on the refinancing and extension of existing facilities, introducing new lending relationships and renegotiating restrictive legacy covenants. Structured a refreshed financing package aligned to current market terms and the Group’s evolving operating profile.

    Outcome
    Competitive tension delivered extended maturities, materially improved flexibility and reduced pricing. The modernised platform positioned the Group with a more resilient, scalable and future‑proof capital structure.

  • Digital Infrastructure Provider

    Situation
    An aggressive acquisition strategy and limited existing debt capacity constrained management’s ability to execute on growth opportunities and compete effectively in transaction processes.

    Advisory
    Structured and secured a fully underwritten debt package to fund an initial acquisition and provide committed capacity for subsequent inorganic growth. Worked closely with lenders throughout a competitive and fast‑moving transaction environment to maintain certainty of funds.

    Outcome
    Delivered committed funding at signing, enabling successful completion of a transformational acquisition and establishing a scalable financing platform to support ongoing expansion.

  • Non-Bank Commercial Mortgage Lender

    Situation
    An Australian non‑bank commercial mortgage lender was transitioning from a third‑party asset management model to an on‑balance‑sheet lending platform. To support the shift and scale origination capacity, the business required its inaugural warehouse funding facility.

    Advisory
    Reviewed lending practices, credit policies and portfolio performance, and prepared credit, structural and operational materials for financiers. Structured and arranged a bespoke warehouse facility aligned to funding, capital and growth objectives.

    Outcome
    Secured a committed warehouse facility, establishing an institutional funding platform to support scalable growth of the on-balance-sheet commercial mortgage portfolio.

  • Private Transport Company

    Situation
    Improved earnings, strong asset backing and recent contract wins had materially strengthened the company’s credit profile, yet existing private credit facilities remained restrictive, equity‑linked and expensive relative to risk.

    Advisory
    Undertook a comprehensive capital review and executed a competitive, multi‑track refinancing process across bank and non‑bank markets to assess optimal funding alternatives and maximise competitive tension.

    Outcome
    Refinanced existing facilities with a senior bank tranche and mezzanine structure, delivering extended tenor, margin reduction and significantly enhanced flexibility aligned with the company’s improved credit standing.

  • Non-Bank Residential Mortgage Lender

    Situation
    A leading Australian non‑bank residential mortgage lender pursued a transformational acquisition of a competitor’s mortgage portfolios across Australia and New Zealand. The transaction required a $5b+ multi-layered funding solution to execute at speed and scale.

    Advisory
    Led portfolio analysis and prepared credit and structural materials for rating agencies, senior banks and mezzanine financiers. Structured and arranged multiple warehouse facilities and advised on the corporate capital package required to complete the acquisition.

    Outcome
    Delivered fully committed financing across senior, mezzanine and corporate layers within a compressed timetable, enabling completion of a transformational acquisition and establishing a scalable funding platform.

Testimonials

“Sturt Capital delivered a highly tailored and flexible debt solution that materially strengthened our funding platform and positioned the business for the next phase of growth. They quickly understood the nuances of our lending model and worked closely with us to design a facility that was both scalable and aligned with our strategy. The team’s market insight, attention to detail, and ability to navigate complex funding requirements were exceptional. Their guidance throughout the entire process gave us absolute confidence, and the final outcome exceeded our expectations.”

Yanir YakutielFounder & CEO, Lumi Financial

"Uniti Group engaged Warwick Stephens as our debt advisor during an important period, when we were considering the transformational acquisition of OptiComm. Warwick played a key role in helping us raise debt financing and guiding us through a competitive bidding process. The deal involved several rounds of revised offers, often requiring quick turnaround and weekend work, and Warwick consistently provided reliable support and clear advice.
The transaction ran over more than six months and involved a number of moving parts. Throughout, Warwick remained closely involved, helping us manage lenders, timelines, and the overall funding strategy. His knowledge of the debt markets and ability to bring institutions together under pressure were particularly valuable. I would not hesitate to recommend Warwick to any company looking for a dependable and practical debt advisor."

Michael SimmonsCEO, Uniti Group Limited

“Sturt Capital provided invaluable support as we expanded our position in the Australian automotive finance market. As a leading provider of floorplan and consumer finance solutions for many of the country’s most recognised automotive brands, Allied Credit required a flexible capital solution that could scale with our growing loan book. Sturt Capital advised on and executed a corporate debt facility that delivered exactly that—providing the funding flexibility, structure, and efficiency we needed to support our dealer partners and accelerate our growth. Their deep sector knowledge, strategic guidance, and ability to navigate complexity were instrumental in helping us become a market leader in automotive finance.”

Matt DevineCFO, Allied Credit

"Sturt Capital played an instrumental role in enabling the development and launch of Sydney Zoo. They designed a tailored funding solution that brought together equity, preferred capital, and bank debt—each component carefully structured to support construction, deliver financial flexibility, and position the business for long term success. Their understanding of our operational model, combined with their ability to coordinate multiple investor and lender groups, was exceptional. Throughout the process, Sturt demonstrated professionalism, transparency, and an unwavering commitment to achieving the best outcome for the project. The result was a capital structure that allowed us to build Sydney’s first new zoo in 100 years and confidently commence operations."

Jake BurgessFounder and Managing Director, Sydney Zoo

“I engaged Warwick in 2023 to support the renegotiation and expansion of NRW Holdings' long-standing debt facilities. The existing arrangements were over a decade old, materially misaligned with current market terms and insufficient to support the Group’s growth ambitions, requiring an increase from $200 million to approximately $450 million. Given the importance of maintaining established relationships with incumbent banks, a full retender was not feasible. Warwick developed and executed a thoughtful negotiation strategy that leveraged current market precedents and competitive tension to modernise terms and increase capacity. His direct engagement with relationship bankers, combined with broader lender dialogue, was instrumental in achieving a materially improved outcome while preserving key banking relationships.”

Richard SimonsCFO, NRW Holdings Limited

“Sturt Capital delivered a highly effective funding solution that played a key role in accelerating the growth of our unsecured personal loan business. They arranged a corporate note facility that was thoughtfully structured to meet our operational needs while fully complying with Australian banking regulations. Sturt’s deep understanding of the regulatory landscape, combined with their ability to navigate investor requirements and design an efficient capital structure, made the process seamless from end to end. The facility provided us with scalable, reliable funding and supported our transition into the next phase of growth. We greatly valued their professionalism and expertise throughout the engagement.”

Simon BeitzDirector & CEO, Alex Bank

“Sturt Capital played a pivotal role in supporting Brighte’s growth as Australia’s leader in solar finance. They arranged a funding facility specifically designed to underpin the development and expansion of our specialised finance products, enabling us to better serve households and businesses transitioning to clean energy. The team demonstrated a deep understanding of our operating model, regulatory considerations, and the nuances of renewable energy lending. Their ability to structure a scalable, efficient facility and manage a broad group of stakeholders was exceptional. The outcome strengthened our platform and accelerated our product innovation. Their professionalism, insight, and commitment to delivering the right outcome made them an invaluable partner throughout the process.”

Dylan HanCFO, Brighte

Confidential discussion

Independence. Diligence. Integrity.