Brief: Lumibird Secures EUR 140 MLN Of Euro PP And Bank Financing

Lumibird SA

02/12/2020 06:50

Dec 2 (Reuters) - LUMIBIRD SA  LBIRD.PA :
    * REG-LUMIBIRD SECURES €140M OF EURO PP AND BANK FINANCING
TO
SUPPORT ITS STRATEGIC AMBITIONS
    * LUMIBIRD GROUP HAS INCREASED ITS CAPACITY FOR INVESTMENT
BY OVER
EUR 100M AND AIMS TO DOUBLE ITS REVENUES BETWEEN 2020 AND 2023
    * AIMS TO DOUBLE ITS REVENUES BETWEEN 2020 AND 2023
    * THIS TARGET IS BASED ON ORGANIC GROWTH FOR ONE THIRD AND
EXTERNAL GROWTH FOR TWO THIRDS.
    * THESE NEW LINES MADE IT POSSIBLE TO CLEAR EUR 35M LINE SET
UP IN
JUNE 2019, WHILE PUTTING IN PLACE EUR 105M OF NEW CAPACITY FOR
FINANCING EXTERNAL GROWTH, ALONGSIDE CASH POSITION OF OVER EUR
78M AT JUNE 30, 2020
    * PART OF FINANCING WAS DRAWN DOWN TODAY ON CLOSING, WITH
BALANCE
TO BE RELEASED WITHIN 12 OR 24 MONTHS DEPENDING ON PACE OF
ACQUISITIONS
    * THIS FINANCING WAS SET UP UNDER VERY ATTRACTIVE CONDITIONS
(AVERAGE RATE OF AROUND 2.4%)

Source text for Eikon:  ID:nGNE36cpX0 
Further company coverage:  LBIRD.PA 

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