Adviser on refinancing of debt facilities
Transaction amount: A$357m
October 2025
“Centennial Partners brought a genuine challenger mindset to an enormously complex refinancing and helped us articulate the fundamentals of our model in a way that resonated with sophisticated funders. Their understanding of our asset pool and skill in translating that into a multi-jurisdictional securitisation that improves flexibility, advance rates and long-term scalability was outstanding.”
— Phillip Godkin, Executive Director (previously CEO)
SilverChef is a leading hospitality equipment financier providing flexible rental and financing solutions to restaurants, cafes, and food service businesses across Australia and New Zealand. The company has built a strong market position through its innovative rent-try-buy model and deep understanding of the hospitality sector.
Centennial Partners worked closely with SilverChef to structure and execute a comprehensive refinancing of their debt facilities. Our team leveraged deep relationships with financiers and extensive experience in asset-backed lending to deliver an optimised capital structure that supports the company's growth ambitions.
In collaboration with the SilverChef management team and Next Capital, we articulated the 'SilverChef story' and evidenced the fundamentals underpinning the credit to create a fit-for-purpose funding structure for the business.
Hospitality, SME, short-tenor leases and low-residual value assets make funding difficult. SilverChef's operating model and fundamentals address these challenges and support a sustainable funding structure
Concentrated in SME hospitality with high operator churn
c.70% of assets uncontracted and inertia – 12-month RTB operating leases
Misconception that long-term contracts are required
Business Model
Flexible lease/RTB options
Credit Discipline
Best-practice risk processes, controls and culture
Asset Management Capability
In-house refurbish & remarket capabilities
Blue Book model
Proprietary pricing for true asset value
Resilient Industry
Hospitality demand resilient across different economic conditions
Technology Capability
Data-driven customer insights
Strong Distribution Network
Direct + dealer channels (1,500+ ANZ)
Product Offering
Core operating assets
Business Model
Credit Discipline
Asset Management Capability
Blue Book model
Resilient Industry
Technology Capability
Strong Distribution Network
Product Offering
Adviser
Drafting Counsel
Global SPV Pool (Locked Box) - 4 local SPVs operate under one global framework
Global Agent
overseeing the operation and reporting of the global structure
Trustee & Backup Servicer
AU & NZ
Trustee
Backup Servicer
Australia
SPV
in $AUD
New Zealand
SPV
in $NZD
Canada
SPV
in $CAD
United States
Corporate Debt
in $USD
(to transition to SPV)
A single structure combining all the assets from each country into one global pool bringing scale to the facility
A$357m Global Facility
Senior Financiers
Mezzanine Financier
Lower margins, higher advance rates, central global reporting
Covenants and eligibility criteria tailored to asset pool
Enable large dividends, improved ROE and support global expansion strategies
