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Lagardère S.A. Capital/Financing Update 2021
1469_iss_2021-01-04_a34bd698-8596-4b36-964f-76378f75c58b.pdf
Capital/Financing Update
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Paris, 4 th January 2021
Lagardère secures and strengthens its liquidity position
Arrangement of a €465 million government-backed loan
Amendment to revolving credit facility with term extended to March 2023
In view of the uncertainty surrounding the ongoing health crisis, the Lagardère group has consolidated its financial position by arranging a government-backed loan and amending and extending the term of its revolving credit facility.
Lagardère has arranged with its main French and European banking partners a €465 million loan that is 80%-backed by the French state.
The initial maturity of the government-backed loan is 12 months, with an extension option for up to five additional years. The option may be exercised at the Company's discretion at the end of the initial term. The syndicate of lending banks comprises BNP Paribas, Commerzbank, Crédit Agricole CIB, Crédit Agricole Île de France, LCL, ING, Natixis, Société Générale and Unicredit.
At the same time, Lagardère has agreed with its banking partners to amend and extend the term of its revolving credit facility, thereby:
- adjusting the amount of the facility to €1.1 billion;
- extending the term of a €1 billion tranche from May 2022 to March 2023;
- redefining the covenants over the period to take account of the impacts of the health crisis on all of the Lagardère group's businesses.
Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs over 30,000 people and generated revenue of €7,211 million in 2019.
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In 2018, the Group launched its strategic refocusing around two priority divisions: Lagardère Publishing (Book and e-Publishing, Mobile and Board games) and Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice). The Group's operating assets also include Lagardère News and Lagardère Live Entertainment. Lagardère shares are listed on Euronext Paris.
Press Contacts
| Thierry Funck-Brentano | Tel. +33 1 40 69 16 34 | [email protected] |
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| Ramzi Khiroun | Tel. +33 1 40 69 16 33 | [email protected] |
Investor Relations Contacts
| Emmanuel Rapin | Tel. +33 1 40 69 17 45 | [email protected] |
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| Alima Lelarge Levy | Tel. +33 1 40 69 19 22 | [email protected] |