EUR 125m

June 2021

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Roll Dock

Amending the financing package

  • RollDock, a 100% subsidiary of Roll Holding, owns and operates an innovative fleet of highly adaptable transport vessels. With their semi-submersible multifunctional vessels, RollDock can handle a wide variety of situations and circumstances benefitting from in-house knowledge and engineering expertise. With over ten years of experience and specially designed vessels, RollDock ensures the safe transportation of heavy cargo across the world’s oceans;
  • In 2020/2021 Avaxa assisted RollDock in amending its EUR 125mln financing package with Rabobank, ABN AMRO and KfW;
  • The financing consisted of multiple club deal facilities, partly secured by Euler Hermes and Sinosure coverage. Following deteriorating financial performance repayments were postponed in an earlier stage and the total financing package had to be refinanced before maturity date 31 Dec. 2021;
  • Avaxa assisted RollDock in its financial modelling and composing several potential solutions for the lenders, shareholders and company, which amongst others included a partial debt buy back by one of the shareholder (with a discount);
  • After negotiations with all respective lenders and careful stakeholder management a financing solution was realized that was satisfactory to all parties involved and which gives the company time to recover;
  • Supported by tight process management from Avaxa a successful Closing was realized.