AI assistant
SoLocal Group Capital/Financing Update 2023
1676_iss_2023-06-07_845e0d71-fd56-42da-bf7f-b1f15adb225c.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Solocal Group announces its intention to initiate discussions with its financial creditors and solicitate a consent to defer the payment of the coupons of its Bonds and Mini Bonds due in June and September 2023
The Group is conducting a process aiming at defining a new strategic plan
Following the announcements by way of the press release dated 27th April 2023, in which Solocal Group (the "Company" and, together with its consolidated subsidiaries, the "Group") indicated that it is working on various options relating to the maturity of its indebtedness and its refinancing risk, the Group announces today its intention to initiate discussions with its financial creditors.
In this context, the Group has initiated a twofold review : first, of a new strategic plan that will define its key objectives for the coming years, and second, of its financial structure.
In order to facilitate these discussions with its financial creditors, the Company will request the opening of mandat ad hoc proceedings for its benefit, and invites its financial creditors to organize themselves to participate in these discussions with the Company and the mandataire ad hoc to be appointed by the President of the Commercial Court of Nanterre.
Consistently with these discussions, the Company is also announcing today that it wishes to defer the payment date of the coupons due by the Company in respect of the Bonds and the Mini Bonds in June 2023 and September 2023, and is therefore soliciting the consent of the relevant bondholders in this respect.
"Bonds" means the €176,689,747.06 aggregate principal amount (as of 31 December 2022) of the bonds bearing interests at Euribor rate (three-month Euribor rate floored at 1%) + 7% spread and with maturity date at 15 March 2025 (ISIN: FR0013237484) issued by Solocal Group.
"Mini Bonds" means the €18,743,702.88 aggregate principal amount (as of 31 December 2022) of the bonds bearing interests at Euribor rate (three-month Euribor rate floored at 1%) + 7% spread and with maturity date at 15 March 2025 (ISIN: FR0013527744) issued by Solocal Group.
Disclaimer
This press release has been prepared by Solocal Group exclusively for information purposes. It does not constitute or include any advice or recommendation by Solocal Group (or any other person) regarding the securities of Solocal Group or as to the merits of any transaction or the making of any investment decision. It does not constitute or include any confirmation or commitment by Solocal Group (or any other person) regarding the present or future value of the business of Solocal Group, its securities, its affiliates or any of Solocal Group's or their assets.
This press release is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities in the United States or in any other jurisdiction. The securities referenced in this press release may not be offered, sold, exchanged or delivered in the United States absent registration or an applicable exemption from the registration requirement under the U.S. Securities Act of 1933, as amended. The securities mentioned in this press release are not, and will not be, registered in the United States. This press release is not directed at, or intended for distribution, publication, availability to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law or regulation, or which would require any registration or licensing within such jurisdiction. Nothing in this press release constitutes or contemplates an invitation to participate in the solicitations by a holder in any circumstances in which such participation is unlawful.
This press release includes forward-looking statements based on current beliefs and expectations about future events. Such forward-looking statements may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product development, as well as statements, regarding performance or events. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans", "projects", "may", "would", "should" or the negative of these terms and similar expressions. Forward looking statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions about Solocal Group and its subsidiaries and investments, trends in their business, future capital expenditures and acquisitions, developments in respect of contingent liabilities, changes in economic conditions globally or in Solocal Group's principal markets, competitive conditions in the market and regulatory factors. Those events are uncertain; their outcome may differ from current expectations which may in turn materially affect expected results. Actual results may differ materially from those projected or implied in these forwardlooking statements. Any forward-looking statement contained in this press release is made as of the date of this press release. Other than as required by applicable law, Solocal Group does not undertake to revise or update any forward-looking statements in light of new information or future events. The results and the Group's performance may also be affected by various risks and uncertainties, including without limitation, risks identified in the "Risk factors" of the Universal Registration Document registered by the Autorité des marchés financiers on April 28, 2023 and also available on the Group's website
EN - Solocal - www.solocal.com
Solocal is the digital partner for all local companies in France, from VSEs, to SMBs or Large Companies with networks. Our job; vitalize local life. We strive every day to unveil the full potential of all companies by connecting them to their customers thanks to our innovative digital services. We advise over 281 000 companies all over France and support them to boost their activity thanks to our digital services (Relational Presence, Websites and Digital advertising). We also bring users the best possible digital experience with PagesJaunes, and Ooreka, and our GAFAM* partners. We provide professionals and the public with our high audience services (21M views for PagesJaunes), geolocalised data, scalable technology platforms, unparalleled commercial coverage across France, our privileged partnerships with digital companies and our talents in terms of data, development and digital marketing. Solocal moreover benefits from the "Digital Ad Trust" label. To know more about Solocal (Euronext Paris "LOCAL"): let's keep in touch @solocal *GAFAM : Google, Microsoft/Bing,, Facebook, Apple, Amazon. Committed to a CRS strategy since 2013, Solocal fully endorses the United Nations Sustainable Development Goals. The company is certified bronze by Ecovadis and sylver by Gaia Ethifinance.
2
Charlotte Millet Jérôme Friboulet +33 (0)1 46 23 30 00 +33(0)1 46 23 30 61 [email protected] [email protected]
Edwige Druon Xavier Le Tulzo solocal.com +33 (0)1 46 23 37 56 +33 (0)1 46 23 39 76 [email protected] [email protected]
Press contacts Investors contacts Follow us
Albane de Monchy
