The client had already funded the loan with a mezzanine higher interest-rate lender 12 months prior to approaching us. He had a $30,000,000 exposure and he wanted to get some cost-savings, given that it was structured at a time when they were not able to attain the best possible interest rate. We were able to structure an A/B loan note carve out on the facility that was in place and bring significant interest-rate savings to the client.