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DUKE&KAY WAS PART OF A PURCHASE AND RESTRUCTURING AGREEMENT ON 130 MILLION EURO IN LOANS AND PARTICIPATIVE FINANCIAL INSTRUMENTS

Situation

An Italian Bank entered an agreement to purchase (at discount) the mortgage loans and the participative financial instruments for a total gross book value (“GBV”) of about 130M€, from a Syndicate of 13 banks.

This Company’s debt was related to a previous Restructuring agreement partially solved, now the Company manages mainly RE logistics and manufacturing assets, leased to a leading operator in the luxury industry.

Duke&Kay activity

Duke&Kay created the deal between the “newcomer Bank” and the syndicated banks (that supported the Company in its long crisis) to recover much of their receivables.

Consequently, the new Bank entered an agreement with the Company (led by one of Duke&Kay’s Partner) for the medium-long term restructuring of the mortgage loan, thereby becoming its single banking counterparty.

Duke&Kay was also engaged in the closing phase of the project, which involved the valuation and sale of the company’s real estate assets to allow the reimbursement of the residual debt outstanding.

Results

The sale of the Assets has been completed just one year after the deal creation, reaching all the goals agreed.  

This transaction is a further confirmation of Duke&Kay ability to manage the industrial issues and, at the same time, to create the financial structure to reimburse the Investors and to provide the Company with the financial support to continue its business in safety and profitability conditions.

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