Lagardère Secures and Strengthens Its Liquidity Position
04 1월 2021 - 4:00PM
Business Wire
Arrangement of a €465 million
government-backed loan
Amendment to revolving credit facility with
term extended to March 2023
Regulatory News:
In view of the uncertainty surrounding the ongoing health
crisis, the Lagardère (Paris:MMB) group has consolidated its
financial position by arranging a government-backed loan and
amending and extending the term of its revolving credit
facility.
Lagardère has arranged with its main French and European banking
partners a €465 million loan that is 80%-backed by the French
state.
The initial maturity of the government-backed loan is 12
months, with an extension option for up to five additional years.
The option may be exercised at the Company’s discretion at the end
of the initial term.
The syndicate of lending banks comprises BNP Paribas,
Commerzbank, Crédit Agricole CIB, Crédit Agricole Île de France,
LCL, ING, Natixis, Société Générale and Unicredit.
At the same time, Lagardère has agreed with its banking partners
to amend and extend the term of its revolving credit
facility, thereby:
- adjusting the amount of the facility to €1.1 billion;
- extending the term of a €1 billion tranche from May 2022 to
March 2023;
- redefining the covenants over the period to take account of the
impacts of the health crisis on all of the Lagardère group’s
businesses.
***
Created in 1992, Lagardère is an
international group with operations in more than 40 countries
worldwide. It employs over 30,000 people and generated revenue of
€7,211 million in 2019.
In 2018, the Group launched its strategic
refocusing around two priority divisions: Lagardère Publishing
(Book and e-Publishing, Mobile and Board games) and Lagardère
Travel Retail (Travel Essentials, Duty Free & Fashion,
Foodservice).
The Group’s operating assets also include
Lagardère News and Lagardère Live Entertainment.
Lagardère shares are listed on Euronext
Paris.
www.lagardere.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210103005023/en/
Press Contacts Thierry
Funck-Brentano Tel. +33 1 40 69 16 34 tfb@lagardere.fr Ramzi
Khiroun Tel. +33 1 40 69 16 33 rk@lagardere.fr
Investor Relations Contacts
Emmanuel Rapin Tel. +33 1 40 69 17 45 erapin@lagardere.fr Alima
Lelarge Levy Tel. +33 1 40 69 19 22 alelargelevy@lagardere.fr
Lagardere (EU:MMB)
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Lagardere (EU:MMB)
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