Mini-Perm Financing Or Kick The Can Down The Road?

The investment banker was blunt. "You should have refinanced the project back in 2021. Market conditions are worse today than they were then."

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She shrugged. "Hard to predict. But we have to deal with the market as it is now."

"Well, it might seem that way," she said. "But think about it. If we, say, negotiate a mini-perm facility with a 5-year maturity period and a 12-year amortization period, you could still reap the benefits of refinancing the project now and hope that market conditions improve by the time the facility matures."

"Let's review our options," I suggested.