"Redbridge's support enabled us to monitor our roadmap, our financing choices, and the negotiation of the terms and conditions of the various financings raised, in a strategic M&A context "

Eric Heurtaux

Engagement overview

  • Support Worldline in the definition and implementation of its financing strategy for the Ingenico’s acquisition
  • Propose a holistic approach to determine the optimal structure (disintermediated as well as bank financing)


  • Optimize the financing structure both in terms of cost of funding and qualitative / legal terms considerations
  • Strengthen Worldline’s credit profile on the bond market
  • Advise Worldline on Ingenico syndicated facility amendment and negotiations with banks


  • €2bn debt raised on public markets (€1bn straight bond, €600mn convertible bond, €400mn Neu CP)
  • Competitive pricing conditions
  • €450mn RCF amend and extend
  • Change of borrower from Ingenico to Worldline
  • Alignment with Worldline’s documentation
  • Extend maturity, fixed margin
  • Combined WL/Ingenico bank pool


  • Holistic approach to have a comprehensive overview of Worldline’s financing options
  • Monitoring of market trends to ensure seizing the best market windows
  • Monitoring of market trends to ensure seizing the best market windows
  • RFPs management to obtain optimal terms on the RCF Amend & Extend

Value added by Redbridge

  • Secured deals executions within short timeframes
  • Provided guidance on financing strategy and fund raising timeline, in a constrained context of a strategic M&A transaction
  • Designed a tailor-made tool to compare debt instruments mix and help decision making process
  • Acted as 2nd party opinion to ensure optimized amount / tenor / pricing / structure flexibility balance
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