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Manitou Group — Capital/Financing Update 2013
Jun 27, 2013
1503_iss_2013-06-27_510d7331-7cdd-48f6-960a-fb4586024ddd.pdf
Capital/Financing Update
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Manitou announces the execution of a 220,000,000€ credit facility with a 5 year maturity
Ancenis, France June 27, 2013 - Manitou today finalized a 220,000,000 € unsecured credit facility with a 5 year maturity. This funding replaces the pre-existing 2008 facility. The new credit is structured as follows:
- €30,000,000 term loan amortized over 5 years,
- €50,000,000 5 year bullet term loan,
- €30,000,000 multi-currency facility available during the first 2 years and amortized over the next 3 years,
- €110,000,000 multi-currency revolving credit facility.
The financing has been implemented with an international banking pool composed of:
- Société Générale Mandated Lead Arranger, Bookrunner, Co-Coordinator & Agent,
- Natixis Mandated Lead Arranger, Bookrunner & Co-Coordinator,
- Banque Populaire Atlantique Mandated Lead Arranger, Bookrunner & Co-Coordinator,
- CIC Ouest Mandated Lead Arranger & Bookrunner,
- HSBC Mandated Lead Arranger & Bookrunner,
- Arkéa Arranger & Bookrunner.
Dominique Bamas, President & CEO has declared: "The renewal of this credit facility extends the maturity of the Manitou Group debt for another 5 years. This important milestone was achieved with the assistance of our banking partners to structure a more flexible and stable financing tool which can support both our business growth and the cyclical nature inherent in our industry."
Manitou has been assisted by Banque Lazard as financial advisor and Nabarro & Hinge as lawyer. The banks have been advised by Herbert Smith Freehills Paris LLP.
Manitou, the Material-Handling Reference, is headquartered in Ancenis (in the Loire-Atlantic region of France). The group designs, manufactures and distributes materialhandling solutions for the construction, agricultural and industrial sectors. Manitou realized sales of €1,265 million (nearly three fourths of which internationally) under the brand names Manitou®, Gehl®, Mustang®, Loc® and Edge®, through 1,400 independent dealers in over 120 countries. At December 31, 2012, Manitou had over 3,300 employees, of which, 40% were based outside of France.
Forthcoming events
June 28, 2013: Shareholders' meeting August 28, 2013 (after market closing): Q2'13 Revenue
Corporate information is available at: www.manitou-group.com Shareholder information: [email protected]
Listing codes:
ISIN: FR0000038606 • MNO: MTU • Reuter: MANP.PA • Bloomberg: MTU.FP Indexes: CAC Mid & Small, CAC Small, CAC All-Tradable, NEXT 150