Case 3: Automotive supplier with $300m sales, 1500
employees (completed)
Initial position:
Quoted on stock exchange
Over-indebtedness: $70m
Brief: financial turnaround
Action:
EXMAG designed a "debt-to-equity" swap, allowing a hedge fund to manage the bad
loans of the creditor-bank pool and to exchange part of them for the equity of the
target company
Results after 9 months:
Banks cooperate to swap debt into equity
Debt relief
Avoidance of bankruptcy: successful debt-to-equity swap saved the crisis company
at the last minute
Case
1: Service provider with CHF2.3bn sales; 7,000 employees
(completed)
turnaround@EXMAG.ch
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