"We were extremely happy with the support that Redbridge provided. Their team showed a very high level of professionalism and commitment at every stage of the process and were always available whenever we needed them. They played an instrumental role in ensuring the transaction closed with excellent financial and legal terms"
Engagement overview
Refinancing the Group’s syndicated loan and Euro Private Placement worth a total of €105m, which is to be used to finance its 2025–30 plan
Objectives
- Refinance the Group’s 2026 and 2027 maturities
- Increase the liquidity available to the Group in a complex market environment
- Extend the average maturity of the debt
- Mobilize the existing bank pool while bringing in new lenders
Results
- The new syndicated loan consists of a €55m six-year amortizing tranche, a €20m seven-year bullet tranche and a €30m five-year revolving credit facility (extendable to six years), with funding provided by eight banks and one investor
- Loan incorporates three ESG KPIs: accident frequency rate, absolute Scope 1 & 2 emissions and Scope 3 emissions intensity
- Significant flexibility gains in the documentation
Methodology
- Reviewing the Group’s business plan using a cash-flow model and calculating how much financing and committed liquidity was needed
- Determining the best strategy to approach lenders (banks and debt funds) to maximize appetite for the deal and optimize its terms & conditions
- Preparing the consultation documents and managing the bank and investor consultation
- Carefully overseeing the integration of the ESG KPIs into the documentation
- Selecting a panel of lenders aligned with the Group’s objectives
Value added by Redbridge
- Tailor-made process and management of potential lenders that fostered a sense of competition between them to ensure the transaction was a success according to every measure
- Ensured the transaction closed on schedule
- Coordinated with the executive and finance teams of all parties involved in the process (investors, banks and lawyers)
- Produced materials and provided support for all key decisions
- Negotiated tailor-made documentation and provided assistance to the Group all the way through to closing