travix
Restructuring financing
- 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, with 5 brands and an extensive portfolio of 43 websites;
- Following a deteriorated financial performance, Avaxa was engaged by Travix in August 2018 to assist in the financial restructuring of its existing financing package, including resetting financial covenants and addressing a potential liquidity shortage;
- In December 2018 Avaxa was able to find common ground and close a revised financing package, providing sufficient financial and operational headroom for Travix to execute its strategy going forward;
- As part of the solution financial covenants were reset while both the incumbent lenders and the shareholder of Travix chipped in to ensure long term financial stability.
