Brief: Clariane Signs Extension Of Its Term Loan To May 2026 For EUR 505 Mln

Clariane SE

25/07/2023 17:40

July 25 (Reuters) - Clariane SE  CLARI.PA :
    * TODAY SIGNATURE OF EXTENSION TO MAY 2026 OF ITS TERM LOAN
FOR AN
AMOUNT OF EUR 505 MILLION, SLIGHTLY ABOVE INITIAL AMOUNT, IN
LINE WITH MATURITY OF EXISTING GROUP REVOLVING CREDIT FACILITY
(RCF) OF EUR 492.5M
    * CONTINUED ROLL-OUT OF REAL ESTATE DEBT REFINANCING, WITH
EUR
150M CONTRACTED SINCE BEGINNING OF YEAR
    * ISSUANCE OF NEW SUSTAINABILITY-LINKED EUR 40 MILLION
PRIVATE
PLACEMENT
    * GROUP IS COMMITTED TO DELEVERAGE ITS BALANCE SHEET
    * EXISTING FINANCIAL LEVERAGE COVENANT WILL GRADUALLY
DECREASE
FROM 4.5X UNTIL JUNE 2024 TOWARDS 3.75X FROM DECEMBER 2025
ONWARDS
    * EXISTING FINANCIAL LEVERAGE COVENANT WILL GRADUALLY
DECREASE
FROM 4.5X UNTIL JUNE 2024 TOWARDS 3.75X FROM DECEMBER 2025
ONWARDS
    * IN ADDITION TO THIS OPERATION, CLARIANE HAS ISSUED A
PRIVATELY
PLACED EUR 40M SUSTAINABILITY LINKED BONDS WITH EIFFEL
INVESTMENT GROUP

Source text for Eikon:  ID:nBw5CXsxga 
Further company coverage:  CLARI.PA 

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