Debt Restructuring of a leading precast producer

A company located in Bergamo which produces precasts for industrial buildings finalized a debt restructuring agreement in compliance with article 67 of the bankruptcy law Art. 67 L.F. with a pool of 16 banks.

Because of the recession, the company significantly reduced turnover and margins and was unable to service its debt.

Cross Border assisted the client as follows:

  • producing a business and financial plan, projecting the repayment of bank debt for a total amount of € 68 million over 5 years, by implementation of industrial efficiencies and disposals of assets;
  • renegotiating the terms of existing debt by consolidating short-term exposure and rescheduling medium-term loans;
  • arranging new credit lines for a total of € 10 million.