Brief: Orapi Reaches Agreement With Its Financial Creditors

Orapi SA

03/03/2020 18:01

March 3 (Reuters) - Orapi SA  ORPF.PA :
    * CONCLUSION OF AN AGREEMENT WITH ITS FINANCIAL CREDITORS
FOR THE
RESTRUCTURING OF THE BALANCE SHEET AND THE SETTING UP OF A NEW
CREDIT FACILITY
    * ANNOUNCES REPURCHASE OF ALL OF ORAPI GROUP'S BANK DEBT
(WITH THE
EXCEPTION OF CERTAIN MORTGAGES) AND BONDS BY KARTESIA
    * RESTRUCTURING OF THE EXISTING BANK AND BOND DEBT, FOR A
TOTAL
AMOUNT OF €52 MILLION
    * PROVISION OF NEW FINANCING BY KARTESIA OF €17 MILLION IN
FORM OF
UNLISTED SIMPLE BONDS SUBSCRIBED IN 2 TRANCHES (€12 MILLION AT
TIME OF ISSUE AND €5 MILLION OVER 12 MONTHS) INTENDED TO FINANCE
OPERATION OF GROUP
    * ORAPI SA SAYS 80% OF THE NOMINAL VALUE OF ACQUIRED
RECEIVABLES
WILL BE CONVERTED INTO BONDS REDEEMABLE IN SHARES
    * ENTRY INTO FORCE OF AGREEMENT IS SUBJECT TO DECISION OF
COLLEGE
OF AMF BY 30 APRIL 2020 AT LATEST

Source text for Eikon:  ID:nGNEqc1hM 
Further company coverage:  ORPF.PA 

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