Deutsche Forfait says restructuring in jeopardy

DF Deutsche Forfait AG

22/07/2015 18:23

BERLIN, July 22 (Reuters) - German trade finance specialist 
Deutsche Forfait  DFTGn.DE  said its restructuring is in 
jeopardy after it failed to find enough takers for a capital 
increase and that it is now talking to banks and investors to 
find a way to fill the resulting equity gap. 
    The company has been trying to recover from losses incurred 
after it was investigated by a U.S. regulator, which suspected 
it of violating trade sanctions with Iran.  ID:nL6N0SC149  
    It said on Wednesday that only 45 percent of offered shares 
in a capital increase were subscribed, meaning it has raised 
only 4 million euros ($4.36 million), 6 million euros below what 
it wanted. 
    "Deutsche Forfait AG's going concern ability depends on the 
equity gap being filled," it said in a statement. 
    One plan under discussion is to repurchase part of its 
outstanding 2013/2020 bond with the help of investors, with the 
income from that being used to strengthen its equity position. 
($1 = 0.9170 euros) 
 
 (Reporting by Victoria Bryan; Editing by Harro ten Wolde) 
 ((victoria.bryan@thomsonreuters.com; +49 30 2888 5169; Reuters 
Messaging: victoria.bryan.thomsonreuters.com@reuters.net 
Twitter:@vl_bryan)) 
 
Keywords: DF DEUTS FORF RESTRUCTURING/