Сделки по рекапитализации бизнеса и реструктуризации задолженности

Carlo Pazolini

Shoe retail chain

  • Период реализации 2016 – 2017
  • География проекта Russia

Restructuring the debts of one of the largest shoe retail chains in Russia and the CIS

Between 2010 and 2014, the company received a number of foreign currency denominated bank loans to develop its retail network. The company’s total debt exceeded US$120 million. After the sharp devaluation of the Russian ruble at the end of 2015, the company became unable to service the debts it took on earlier. Between 2016 and 2017, the PCG team bought out the company’s debts to Sberbank, Alfa Bank, Promsvyazbank, and OTP Bank, with a total nominal value of US$85.4 million, at an average discount of roughly 70%. The remaining US$37.5 million in debts owed to UniCredit, Avtotorgbank and B&N, will be written off or bought out at a discount of more than 90%.
  • Reached an agreement with creditors to discount the company’s debts
  • Bought out the company’s debts
  • Made sure the company continued ongoing operations