"In a challenging market environment, Redbridge's support has helped us complete our financing deals on time with excellent results. We’ve appreciated how smoothly the process ran and the expertise of the Redbridge team."
Engagement overview
- Debt structure advisory
- Refinancing the syndicated revolving credit facility (RCF) that was previously amended in 2017
- Amending the Euro Private Placement (€PP) and US Private Placement (USPP)
- Arranging additional financing to fund the company’s growth plans
Objectives
- Secure the group’s medium-term liquidity
- Gain financial leeway to pursue internal and external investments
- Improve and align the group’s financing terms and conditions
- Incorporate ESG KPIs
Results
- Size of the RCF syndicated loan increased from €250m to €300m, with a 5-year+1+1 maturity
- Amendments made to the €PP and USPP to reflect the RCF’s new- flexible terms
- Arrangement of a new €200m term loan with a five-year maturity and 100% bullet
- Integration of two ESG KPIs (reduction of CO2 emissions and safety at work) into the RCF and the new term loan
Methodology
- Helping Compagnie des Alpes with an analysis of the financing structure needed to support a rebound in their activity after the pandemic and guiding them towards achieving their medium-term business plan
- Positioning the group’s credit profile on the market
- Advising and making recommendations on the process for different transactions
- Managing both bank and investor consultation processes
- Helping with the terms and conditions of the RCF during the negotiations, assisting with the new loan and the private placements, and making sure they had aligned terms
Redbridge’s added value
- Detailed analysis of Compagnie des Alpes’ medium-term business plan under several scenarios (including potential acquisitions). Analysis of their credit profile and recommendations for an optimal debt structure
- Execution of the three transactions within the agreed timetable despite the backdrop of volatile markets and high inflation
- Terms & conditions: definition of a negotiation strategy to achieve the best possible results for each transaction
- ESG: assistance in the selection of the ESG Coordinator and the structuring of ESG KPIs