Brief: Technicolor: New Financing, Opening Of Accelerated Financial Safeguard Procedure

Vantiva SA

22/06/2020 15:41

June 22 (Reuters) - Technicolor SA  TCH.PA :
    * AGREEMENT IN PRINCIPLE ON FINANCIAL RESTRUCTURING PLAN
    * EUR 420 MILLION NEW FINANCING AND DELEVERAGING THROUGH EUR
660
MILLION DEBT EQUITIZATION
    * OPENING OF AN ACCELERATED FINANCIAL SAFEGUARD PROCEDURE
    * RECEIVED SUPPORT OF A MAJORITY (65,77%) OF ITS LENDERS
UNDER
TERM LOAN B AND REVOLVING CREDIT FACILITY AND OF BPIFRANCE
PARTICIPATIONS
    * GROSS DEBT IS TO DECREASE FROM CURRENT POSITION OF EUR
1,444
MILLION TO EUR 1,102 MILLION
    * NET DEBT TO EBITDA TARGET (POST IFRS 16 ADJUSTMENTS) IS
AROUND
3X AT END OF 2021, DECREASING THEREAFTER

Source text for Eikon:  ID:nGNX559kdM 
Further company coverage:  TCH.PA 

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