EIFFAGE (EPA:FGR) - APRR and Eiffarie refinance their credit lines whilst incorporating social and environmental criteria
Transparency directive : regulatory news
20/02/2020 17:46
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Vélizy-Villacoublay, February 20, 2020
17:45
Press release
APRR and Eiffarie refinance their credit lines
whilst incorporating social and environmental criteria
APRR and Eiffarie have refinanced with success their credit line signed in 2015
maturing in February 2022. The transaction, more than 50% oversubscribed by a
syndicate of 18 banks, amounts to EUR3.07bn and comprises 2 credit facilities
with the following terms:
* A new EUR2bn revolving credit facility destined for the general corporate
purpose of APRR. It will substitute itself to the existing undrawn EUR1.8bn
credit line. The facility will lengthen APRR financial means and secure its
liquidity on enhanced terms whilst being more than 10 % bigger.
* A term loan for Eiffarie for an initial amount of EUR1.07bn. It will
substitute itself to the existing credit line of the same amount. The credit
line on enhanced terms will be progressively amortised with a growing
repayment profile starting in 2023 and the remaining amount repaid at
maturity.
* These two credit lines have a 5-year maturity with 2 possible 1-year
extension.
In order to translate APRR and Eiffarie undertaking in social and environmental
matters, and as Eiffage initiated it in May 2019, this facilities margin will
partially depend from APRR performance in two extra financial domains to which
it attached a strong importance, health & safety and carbon footprint. As such,
an improvement on either one of these topics will lead to a reduction in the
credit margin. A deterioration would lead to compensation measures in favour of
associations or a foundation working in the general interest.
This innovative mechanism in line with the Group's strategy on these 2 topics,
makes Eiffage one of the first group of the industry incorporating this type of
undertakings in its financial documentation, on such a scale of EUR5.1bn over
12 months.
The 18 financial institutions are:
* Mandated Lead Arrangers and Bookrunners:
Banco Sabadell, BBVA, BNP Paribas, CaixaBank, CIC, Groupe Crédit Agricole,
Intesa, Mediobanca, Mizuho, MUFG, Natixis - Groupe BPCE, Santander, Société
Générale and UniCredit.
* Mandated Lead Arrangers:
Commerzbank, HSBC, La Banque Postale and SMBC.
Investor relations Press contact
Xavier Ombrédanne Sophie Mairé
Tel: + 33 (0)1 71 59 10 56 Tel: + 33 (0)1 71 59 10 62
e-mail: xavier.ombredanne@eiffage.com e-mail: sophie.maire@eiffage.com