EUR 25m

July 2021

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CB Facturatie

Refinancing of the existing factoring facility, whilst keeping in place the existing payment streams

  • Acting as a central counterparty to both booksellers and publishers, CB Facturatie plays a pivotal role in the financial flows of the book market
  • Following a financing options analysis conducted early 2020, in December 2020 Avaxa was engaged by CB Facturatie to assist in the refinancing of its existing factoring facility, which was executed in parallel to the refinancing of CB;
  • Avaxa compiled an Information Memorandum as well as a detailed Request for Proposal that was shared broadly in the financing markets;
  • The competitive financing raise process, resulted in ample interest and multiple Committed Term Sheets from Asset Based Lenders;
  • Through tight process management, we managed to close the EUR 25m refinancing of the factoring facility with ABN AMRO Asset Based Finance in July 2021, against very favourable terms & conditions, including increased operational flexibility; and
  • In particular, Avaxa managed to negotiate that following the refinancing the payment streams continue to flow through the existing bank accounts, thus minimizing the operational hassle and management attention of switching its financing provider for CB Facturatie.