Elis successfully continues its refinancing operations as part of the Berendsen acquisition
13 Novembre 2017 - 5:40PM
Elis successfully
continues its refinancing operations as part of the Berendsen
acquisition
Saint-Cloud,
November 13, 2017 - On November 7, 2017, Elis, a leading
multi-services group in Europe and Latin America, specializing in
the rental and maintenance of professional clothing, textile
articles, hygiene and well-being appliances, has signed a €200mn
Term Loan, which has been drawn today, and a €400mn Revolving
Credit Facility (the "Facilities"). The Facilities will improve
Elis' financial profile and the Term Loan will be used to partially
redeem the bridge loan which financed the Berendsen
acquisition.
The initial refinancing objective
for this syndicated loan was for €500mn, but strong
oversubscription allowed Elis to increase the overall size of the
borrowing to €600mn, demonstrating strong market confidence in the
Group and its creditworthiness.
Elis took advantage of attractive
market conditions to benefit from a more competitive initial margin
than the one obtained for the syndicated loan signed in January
2017. As a result of this refinancing, this facility, which expires
in November 2022 (and can be extended to 2023/2024 for the
Revolving portion), materially improves the Group's liquidity
profile and gives it additional flexibility.
BNP Paribas, HSBC France, ING BANK
N.V., French Branch and Natixis acted as Mandated Lead Arrangers
and Bookrunners. HSBC France also acted as Coordinator and Facility
Agent.
Participating banks are Bank of
Tokyo Mitsubishi UFJ, Commerzbank, Danske Bank, Mediobanca as
Mandated Lead Arrangers and Banco Bilbao Vizcaya Argentaria, Banco
de Sabadell, KBC Bank and La Banque Postale as Arrangers.
Contact
Nicolas Buron, Investor
Relations Director - Phone: +33 1 75 49 98 30 -
nicolas.buron@elis.com
Elis - Refinancing operations as
part of the Berendsen acquisition
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announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Elis via Globenewswire
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