"Redbridge's support enabled us to successfully complete the refinancing of our syndicated loan and optimize its terms and conditions by following a clear, structured and efficient process."
Engagement overview
- Analysis of existing banking relationships
- Assessment of the company’s funding and liquidity needs
- Support for the Group in refinancing and merging its Worldline and ex-Ingenico syndicated loans
Objectives
- Complete the operation within two months
- Increase the size of the loan
- Optimize pricing (both in terms of commissions and margins) and make the documentation more flexible
- Review and expand the pool of lending banks
Results
- Revolving credit facility increased in size from €1.050m to €1.125m
- Achieved competitive pricing taking into account the prevailing market conditions
- Increased the flexibility of the loan documentation
- Expanded the pool of lenders, adding new banking partners to result in a total of 17 French and international banking groups
Methodology
- Review of existing loan documentation and proposal of a strategy to approach banks
- Evaluation of the impact of the proposed size of the loanon the company’s credit rating
- Mapping of bank commitments and side business with the company
- Management of bank consultations in conjunction with Worldline’s management
- Bilateral negotiation of terms and conditions with each bank, based on a target term sheet
Value added by Redbridge
- Comprehensive project management in collaboration with Worldline’s finance department and legal counsel
- Tailor-made process and personalized management of the relationships with potential lenders to ensure optimal competition and achieve successful outcomes
- Inclusion of new banks in the selection process, particularly foreign lenders
- High success rate for credit committee approvals based on the final negotiated term sheet
- Production of internal support materials and providing assistance on key decisions
- Ensuring the timetable was followed