Elis successfully continues its refinancing operations as part of the Berendsen acquisition

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Elis successfully continues its refinancing operations as part of the Berendsen acquisitionSaint-Cloud, November 13, 2017 – On November 7, 2017, Elis, a leading multi-services group in Europe and Latin America, specializing in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances, has signed a €200mn Term Loan, which has been drawn today, and a €400mn Revolving Credit Facility (the “Facilities”). The Facilities will improve Elis' financial profile and the Term Loan will be used to partially redeem the bridge loan which financed the Berendsen acquisition.The initial refinancing objective for this syndicated loan was for €500mn, but strong oversubscription allowed Elis to increase the overall size of the borrowing to €600mn, demonstrating strong market confidence in the Group and its creditworthiness.Elis took advantage of attractive market conditions to benefit from a more competitive initial margin than the one obtained for the syndicated loan signed in January 2017. As a result of this refinancing, this facility, which expires in November 2022 (and can be extended to 2023/2024 for the Revolving portion), materially improves the Group's liquidity profile and gives it additional flexibility.BNP Paribas, HSBC France, ING BANK N.V., French Branch and Natixis acted as Mandated Lead Arrangers and Bookrunners. HSBC France also acted as Coordinator and Facility Agent.Participating banks are Bank of Tokyo Mitsubishi UFJ, Commerzbank, Danske Bank, Mediobanca as Mandated Lead Arrangers and Banco Bilbao Vizcaya Argentaria, Banco de Sabadell, KBC Bank and La Banque Postale as Arrangers.ContactNicolas Buron, Investor Relations Director – Phone: +33 1 75 49 98 30 – [email protected]Attachments:http://www.globenewswire.com/NewsRoom/AttachmentNg/85184cdc-7bc2-4c4f-b481-8222522f18fb
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Sarah Thompson

Sarah Thompson

Sarah is a financial reporter, focusing on technology, national security, and policing. Before joining Daily Telescope she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.
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