"Our new syndicated loan takes full advantage of Redbridge's proven process, based on Redbridge’s expertise and in-depth discussions with each bank, who are thus able to make their best offers."
Engagement overview
- Refinancing Aegide’s syndicated loan set up in 2018 (refinancing loan + capex loan + revolving credit facility)
- Integrating ESG KPIs into a Sustainability-Linked Loan (SLL)
Objectives
- Increase Term Loan and RCF amounts and extend maturities
- Integrate 3 Sustainable Performance Targets
- Optimize financial conditions and make documentation more flexible
- Expand the pool of lenders
Results
- Syndicated loan of €165m (vs. €105m):
- revolving credit facility : 115m€ (5+1 years)
- term loan : 50m€ (6 years)
- Margin grid improved
- More flexible legal terms
- Pool of lenders expanded to four new banks
Methodology
- Validation of the financing needs
- Consultation launched with the pool of existing banks and new banks
- Bilateral discussions/negotiations with all potential lenders
- Alignment towards consensual terms and conditions
Value added by Redbridge
- Process: maintaining a fair competition among lenders during the whole process
- Execution within a tight timing, allowing to maintain momentum
- Terms & Conditions: back and forth discussions with lenders to align them towards the objectives of Aegide
- Negotiation of a more flexible documentation