Latham & Watkins Advises the Banks on the Restructuring of the Damartex Group

Latham & Watkins has advised the lenders to the Damartex Group, a French listed industrial group specialised in the silver economy with more than 3300 employees worldwide, on its restructuring of financial debt and securing of new financing.

The restructuring involved the refinancing of existing revolving credit facility (RCF) lines by a new syndicated RCF for a total principal amount of €120 million; the injection of approximately €50 million of new financing shared between a principal €8.5 million shareholder loan and a “Resilience” new French State backed loan for a principal amount of €35 million; and the confirmation of all operational financing lines in the context of conciliation proceedings, approved by the Lille Métropole Commercial Court on 28 July 2023.

The Latham team was led by Paris restructuring and special situations counsel Thomas Doyen, with associate Eeva Bernard, and banking associates Aurelien Lorenzi and Natacha Enoh.