"Not only did Redbridge provide substantial logistical support, they also skillfully and capably served as the syndication leader in place of a bank syndicating agent, who can never be impartial. "

Valérie Four
VP Group Financing and MD Sonepar Holding


  • Refinance a EUR 630 million facility
  • Amend a EUR 620 million facility
  • Amend and extend a EUR 250 million facility


  • Extend the average maturity of the Group’s three syndicates while obtaining optimized financial conditions
  • Implement unique and somewhat more relaxed documentation relative to current documentation
  • Slightly reorganize the bank pool


  • Average credit maturity was extended by over 60%
  • Financial conditions were optimized, generating substantial savings for the Group
  • Created a group of 14 lenders and implemented documentation that was unique to the three facilities


  • Upstream reflection with Sonepar on strategic choices/challenges/objectives
  • Three operations carried out at once to ensure credit coherence and harmonization
  • RFP sent out to current banks and a small group of new banks
  • Bilateral discussions/negotiations with all potential lenders
  • Transparency about banks in terms of trends that emerged from each “round”
  • Comparison of lenders after obtaining credit agreements

Redbridge’s Added Value 

  • Upstream reflection: strategic choice to refinance part of the facilities and negotiate an amend/amend & extend for the rest
  • Process: maintain healthy competition between lenders until the last minute
  • Timing: keep a well-paced calendar
  • Terms & conditions: several rounds of negotiations to achieve the desired progress from lenders (even the most reluctant of the banks closest to the Group)
  • Negotiation of flexible, harmonized documentation
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