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Chargeurs — Capital/Financing Update 2016
May 30, 2016
1197_iss_2016-05-30_b96d425a-ae44-496a-a8c5-18902d5e81cf.pdf
Capital/Financing Update
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CHARGEURS RAISES €57 MILLION IN 7-YEAR FINANCING THROUGH A EURO PP
PRESS RELEASE
Paris, May 30, 2016
Chargeurs has successfully negotiated a 7-year Euro PP, raising a total of €57 million
"In a highly favorable interest rate environment, Chargeurs has raised funds for general corporate purposes to support its long-term growth," said Michaël Fribourg, Chairman and Chief Executive Officer. "The combined cash and paper facility has enabled us to increase, diversify and optimize our sources of business finance. The placement was heavily oversubscribed, attesting to the confidence of long-term investors in our signature and in the effectiveness of our growth strategy."
As part of its overall development strategy, which is helping to create renewed performance-led momentum, Chargeurs has broadened its sources of long-term business finance by negotiating its first-ever Euro private placement (Euro PP), raising a total of €57 million in 7-year financing repayable at maturity. The closing took place on May 27, 2016 and the funds will be used for general corporate purposes.
The Euro PP comprises:
- a €25 million private placement notes issue underwritten by the French government-sponsored Novo 1 midcap fund, advised by BNP Paribas Investment Partners and managed by France Titrisation;
- a €32 million bank loan provided and arranged by Landesbank Saar, Bank of China Limited and BRED Banque Populaire.
The funds have been raised at a very attractive average interest rate of 2.90%.
Chargeurs' partners in the Euro PP reflect its broad geographic footprint, with distribution or manufacturing operations in 32 countries.
Kepler Cheuvreux acted as the Group's financial advisor and arranger for the deal and De Pardieu Brocas Maffei as its legal advisor.
Next announcement: 2016 interim results on Friday, September 9, 2016
CONTACT Financial Communications Tel: +33 (0)1 47 04 13 40 E-mail: [email protected] Website: www.chargeurs.fr
ABOUT CHARGEURS
Chargeurs is a global manufacturing and services group with leading positions in four segments: temporary surface protection, technical substrates, garment interlinings, and combed wool.
It has over 1,500 employees based in 32 countries on five continents, who serve a diversified customer base spanning more than 45 countries.
In 2015, consolidated revenue totaled almost €500 million, of which nearly 93% was generated outside France.