Agrofusion, one of Europe’s largest tomato paste producers, has successfully completed a comprehensive debt restructuring and secured new financing. The transaction involved the restructuring of c. US$90 million in facilities from 10 local and international lenders, including development finance institutions and export credit agency-supported loans, alongside raising over US$50 million in new financing from four existing and three new lenders.
Following significant operational disruptions in 2022 due to the occupation and destruction of all its assets, Agrofusion regained control over two of its three factories by year-end and needed to raise new financing to recover damaged factories before the start of the tomato processing season in September 2023. In May 2023, Agrofusion initiated new financing and standstill discussions, culminating in a formal standstill signing in August 2023, followed by disbursement of new financing over August-December 2023. The standstill allowed for the prioritized disbursement of new loans and provided time for the orderly restructuring of pre-existing loans. Restructuring discussions began in November 2023 and achieved alignment with lenders by mid-December. Final restructuring approvals and legal documentation followed through 2024. Restructuring covered facilities provided by EBRD, IFC, EIB, Raiffeisen Bank Ukraine, Ukrsibbank (BNP Paribas Group), Raiffeisen Bank International (benefitting from SACE and Hermes guarantees), OTP Bank, Credit Agricole, Pravex Bank (Intesa Sanpaolo Group), Kredobank (PKO Bank Polski Group), while new financing has been provided by selected existing lenders and Oschadbank, EIFO and IFU.
The successful transaction enabled Agrofusion to resume debt service, return to market operations, and support continued investment and recovery in Ukraine.
This mandate reflects FinPoint’s unrivalled competence in restructuring advisory, drawing on extensive experience across both sides of the capital structure.
FinPoint acted as the exclusive financial adviser to Agrofusion throughout each stage of the transaction. The team was led by Sergiy Budkin, Vitalii Stukan, and Vladyslav Honcharenko.
About Agrofusion
Agrofusion is a leading European tomato paste producer. Before the war, the company processed over 750,000 tons of tomatoes annually across three Ukrainian factories, exporting to more than 90 countries.