"The Redbridge team helped us complete the refinancing of our syndicated loan using a well-established and extremely efficient process. This enabled us to optimise the terms and conditions of our loan. "
Engagement overview
- Refinance the syndicated revolving credit facility that was negotiated in 2019
- Amend the euro and US private placements, the European Investment Bank (EIB) and the Daher Group term loan to incorporate provisions negotiated in the revolving credit facility
Objectives
- Increase the size of the revolving credit facility
- Extend the maturity of the loan
- Maintain competitive pricing
- Adapt specific terms to reflect Daher’s recent growth
- Harmonise documentation for the euro and US private placements, term loan and European Investment Bank financing with revolving credit facility standards
Results
- Size of the revolving credit facility increased from €130m to €250m
- 5+1+1 maturity for the revolving credit facility
- Competitive pricing secured for the Daher Group
- Flexible documentation aligned with existing standards
- Two new banks integrated into the pool
Methodology
- Conducted a comprehensive benchmark with recent financing deals
- Validated financing requirements and assessed potential market appetite
- Helped identify and select potential lenders
- Drafted a compelling credit story to attract banks’ interest
- Developed a legal framework aligned with the Group’s objectives and financial strategy
- Managed bank consultations throughout the entire process to ensure smooth communication
- Provided expert advice, recommendations and support during negotiations of the terms and conditions and the Senior Facility Agreement to achieve favorable outcomes
Value added by Redbridge
- Complete project management in collaboration with the finance department and legal counsel.
- Tailor-made process for accessing the debt market.
- Implementation of a strategy to minimise execution risk.
- Support in optimising pricing with an ultra-competitive all-in cost.
- Knowledge transferred to Daher’s finance department.
- Dedicated team available throughout the process.