EUR 70m

August 2020

Dumaco

Restructuring multi-layered financing structure

  • In 2018 Convent Capital formed, through the acquisition of multiple metal producers, Dumaco. Dumaco was financed by multiple lenders with a financing package consisting of Term Loans, Acquisition Financing, RCF, Factoring and Leasing facilities;
  • n November 2019 Avaxa was engaged by Dumaco to assist in restructuring its financing package;
  • An initial deal was reached in February 2020, however, following the outbreak of COVID-19 and the impact thereof on Dumaco, the deal had to be renegotiated; and
  • In July 2020 Avaxa was able to find common ground for all stakeholders involved, and closed a revised financing package, providing sufficient financial and operational headroom for Dumaco to execute its strategy going forward.