"Working with Redbridge allowed us to run a transparent, efficient and documented process, which led to the success of our refinancing, and the achievement of all our objectives "
Engagement overview
- Assist Neoen in the refinancing of its existing €250m syndicated facilities in anticipation of its 2026 maturity and to support the growth of the Group
Objectives
- Double the size of the existing facility while increasing the RCF tranche
- Maintain competitive margins
- Ensure compatibility of the documentation with other financings in place and with the growth trajectory of Neoen
- Ensure the « Sustainability Linked » status of the facility
Results
- Large oversubscription of 135%, allowing fine-tuning of final allocations and expansion of bank pool
- Increase of RCF tranche to 40% (vs. 30%)
- Limited repricing of margins, despite deteriorating market conditions
- Flexible documentation, ESG compatible and improved additional debt capacity
Methodology
- Deep preliminary analysis of credit positioning and constraints
- Pre-sounding of banks to refine and adapt target Term Sheet
- Preparation of a complete information package for potential lenders (Info Memo, detailed Term Sheet, Business Plan model)
- Management of the lender consultation process from A to Z, including Q&A management
- Assistance during the negotiation of the final facility agreement
Value added by Redbridge
- Comprehensive project management in collaboration with the finance department
- Tailored process and personalized management of potential lenders, allowing for increased competitive dynamics and ensuring deal success across all criteria
- Significant oversubscription
- Entry of new lenders, especially international ones
- 100% success rate in credit committee approvals based on final negotiated Term Sheet
- Full compliance with the agreed calendar