EUR 100m

September 2019

de poli

Restructuring term loans, RCF and sale-and-lease back facility

  • In November 2018, Avaxa was engaged by De Poli Tankers, active in the transportation of chemicals and other special bulk liquids as well as petrochemical gases, through ownership of both chemical parcel tankers and gas carriers, to assist in restructuring its financing package;
  • The financing package consisted of multiple bilateral facilities and a club deal financing, indicating different positions and views per lender. Following deteriorating financial performance repayments were postponed through a so-called ‘standstill’; and
  • Nevertheless, further liquidity issues arose after which Avaxa assisted De Poli in its financial modelling, negotiations with all respective lenders and stakeholder management to come to a solution that was satisfactory to all parties involved.