Italian Coffee Machine Maker Nears Debt Deal – CoffeeTalk

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Italian coffee machine maker Caffitaly System SpA is nearing a debt restructuring agreement, involving new cash from shareholders and a cut on its bank debt. The deal is expected to see nearly €40 million ($42 million) of fresh cash from Alpha Group and investment holding company Compagnie Nationale a Portefeuille. Banks led by BNP Paribas SA will convert around half of their €150 million exposure into equity-like instruments to lighten the debt load. Alternative credit investor Polus Capital Management is also exposed to Caffitaly’s bank debt. The company has been struggling in recent years, with a loss of €4 million in 2022. The firm has also faced increased competition in Italy and the breakage of a factory roasting machine, which hit profits and impacted operations in 2023. Caffitaly had previously sought third-party funding before focusing on a solution within its existing stakeholder base.

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Source: Coffee Talk

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