Engagement overview
- Inaugural syndicated loan to support Mirakl’s robust growth and finance future acquisitions
Objectives
- Expand funding capacities to accelerate M&A and capex strategies
- Establish a highly flexible documentation framework with minimal constraints, to include attractive pricing, limited guarantees and streamlined documentary remittance
- Carefully select a limited number of banks with the capacity to serve as key financial partners
Results
- Revolving Credit Facility syndicated loan of €100m, with a maturity of 3+1+1 years.
- Unsecured financing arrangement
- Competitive financial terms
- Flexible covenants allowing for additional debt capacity and providing a favorable framework for acquisitions
- A balanced banking pool consisting of five major international banks
Methodology
- Benchmarking exercise
- Validation of funding requirements and assessment of market appetite in a constrained environment
- Assistance in identifying and selecting potential lenders
- Preparation of an information package and drafting the credit story to secure banks’ support
- Develop a legal framework aligned with the group’s objectives
- Management of bank consultations throughout the process
- Providing advice, recommendations and support in negotiating the terms and conditions and the Senior Facility Agreement
Value Added by Redbridge
- Collaborative project management with Mirakl’s finance department and legal counsel
- Customized process to access the debt market efficiently
- Implementation of a strategic approach to mitigate execution risk
- Assistance in optimizing pricing
- Leveraging Redbridge’s expertise to ensure maximum flexibility in legal documentation
- Sharing knowledge with Mirakl’s finance department
- A dedicated team providing comprehensive support that was available to Mirakl at all times