London, UK (PRWEB) December 11, 2013
Today at Legal Escrow Services Limited headquarters in the City of London Mr. George Matharu, President and Mr. Kunal Pushkarna, Head of Business Development announced a new company's strategy will be followed in the first quarter of 2014 to provide long term loans across 15 to 30 years to construction and infrastructure projects that are valued for USD 10 Million and above.
During the past five years the capacity of global banks to financially support countries and projects that serve the communities and economy of the people has retreated. A new generation of companies that provide sources of funding have replaced banks in this sector without competition. Banks themselves began using these kind of companies for access to proper funding sources to which banks are lacking means of communication. Having the required channels of communication with countries and wealthy resources, this new generation of companies is now considered a tool that can reach into the sources of funding.
Among the new generation of these companies is the British company Legal Escrow Services Limited ("LES") which is owned by a Kuwaiti family and is a private limited company specialised in providing financial support for large infrastructure projects and commercial real estate projects.
LES headquarter is located in London at the prestigious Dashwood House office building on the 17th floor, 69 Old Broad Street, London, EC2M 1QS, United Kingdom. A new satellite branch has also been established on the 18th floor, 40 Bank Street, Canary Wharf, London, E14 5NR, United Kingdom. Both offices are strategically located to serve their domestic and global clients by Board Members, Staff and Agents being located across the Middle East, Asia and Europe. LES has multilingual staff to ensure that they can accommodate all of the client’s needs.
Legal Escrow Services Limited offers a wealth of experience in Banking and Financial transactions and has a range of specialized advisory services for private, SME or corporate clients. Also when required, LES can customize and structure their products and services to meet the specific needs of the clients. They will continue to customize, structure, create and implement funding products and services as the need requires.
Legal Escrow Services Limited has made strategic alliances with several organizations and companies which have given them access to international markets in Asia, Africa, Middle East and GCC region. This has given Legal Escrow Services Limited a substantial foundation of clients to build on, in addition to access to the markets that are most in need of the products and services they offer. The aim of LES is to facilitate the commencement and completion of Infrastructure projects, stimulate economy, create employment and combat poverty.
"Our services are suitable for all types of Infrastructure Projects in either Greenfield (Pre Operations Stage) or Brownfield (Operations Stage) including but not limited to Sea Ports, Airports, Railway, Bridges, Roads and Highways, Water and Sanitation Utilities, Energy, Communications, Hospitals, Schools and Social Infrastructure etc. This includes other projects or activities that impact positively on the relevant country’s basic infrastructure including the manufacturing of components used in infrastructure (such as cement and steel) and infrastructure associated with mining and agribusiness". Mr. George Matharu, President and General Manager of LES, said.
"A minimum of USD 10 Million and up to 100% of the project’s financial requirement to be supplied up to 15 years for the design, construction and finance component. A maximum of 30 years can be provided for the on-going operation component which in total will add up to the size, loan to value, and terms of the projects". Mr. Kunal Pushkarna, Head of Business Development of LES, said.
Projects operations accepted by Legal Escrow Services Limited can be either BOOT (Build, Own, Operate, Transfer) BOO (Build Own Operate), BOT (Build Own Transfer), BTO (Build, Transfer, Own), BT (Build Transfer), BLT (Build, Lease, Transfer), BRT (Build, Rent, Transfer) or PPP (Public Private Partnership).
"All countries can be considered but countries currently engaged in war or politically unstable environments or sanctioned countries will not be suitable. Also, all projects must adhere to local and international environmental, health, safety and social standards as required. LES services are suitable for privately held projects, Public & Private Infrastructure Operators, National & Local Governments, NGOs and Financial Institutions". Mr. George Matharu, President and General Manager of Legal Escrow Services Limited, said.
LES services depends on four types of "Funding Collateral."
1.Commercial Bank Instruments; Bank Guarantees, Bonds, Medium Term Notes, or other Bank Debt Instruments issued by banks rated ‘A’ or better, but this can be reviewed on a case-by-case basis.
2. Sovereign Guarantee; Legal Escrow Services Limited is able to facilitate funding for Government and Infrastructure Projects against a Sovereign Guarantee subject to the Sovereign Guarantee being ratified by the relevant authorities and departments, namely the Central Bank and Ministry of Finance in the respective countries. In some cases the Sovereign Guarantee may need to be confirmed by a Commercial Bank.
3. Resource Guarantee; The option is available to fund projects against a Resource Guarantee such as an Oil Guarantee or any other significant and valuable minerals or resources that the country has may also be considered.
4. Promissory Notes; Corporate Promissory Notes endorsed by a commercial bank can be useful if the project has bankable assets that can be used for leverage financing.
"To better serve its clients, Legal Escrow Services has made an application to be an Appointed Representative under the regulatory rules of the Financial Conduct Authority (FCA) in the UK. The Firm Registration Number is 610196. The initial registration formalities have been completed including an increase in the company's paid up capital to £ 3,240,000.00 GBP. [Please note that this is a level of paid up capital suggested for the FCA registration, and does not reflect the deals size of LES's projects and/or clients]". Mr. George Matharu, concluded his statement.
-- Contact Details --
THE CITY HEAD OFFICE
Legal Escrow Services Limited
Level 17, Dashwood House
69 Old Broad Street
London, EC2M 1QS
Telephone : +44 (0) 207 562 8393
Facsimile : +44 (0) 207 562 8396
THE DOCKLANDS BRANCH
Legal Escrow Services Limited
Level 18, 40 Bank Street
London, E14 5NR
Telephone : + 44 (0) 203 059 7778
UK Telex : (051) 410422 ESCROW