Travix
Amend & Extend of RCF and bank guarantee lines to facilitate further growth
- Travix is a global online travel company operating in 39 countries from offices in the Netherlands, Australia, Curaçao, Germany, India, Singapore, the UK and the USA. Travix has 5 brands and an extensive portfolio of 43 websites;
- As a result of its strong international growth and improved financial performance, Travix preferred to amend its existing financing package not only to increase its bank guarantee lines but also to investigate to what extent it could improve its financing terms and conditions;
- Avaxa was engaged by Travix in October 2017 to assist in amending its existing financing package;
- Avaxa assisted Travix in benchmarking the existing terms & conditions to identify the improvement potential. Based on this a Request for Amendments was made to the incumbent lenders to amend terms & conditions in Travix’ benefit;
- As a result Travix succeeded in increasing its financing package to cater for further growth, extended the tenor of the financing while at the same time significantly improving terms & conditions, amongst others creating more financial and operational flexibility for Travix.
