"Thanks to Redbridge, we have reached all our objectives for this refinancing and most notably the integration of our group’s ESG commitment. "
- Refinancing of the group’s syndicated loan set up in 2014 and amended & extended in 2016.
- Integration of an ESG criterion.
- Negotiate a 5-year full RCF refinancing plus two 1 year extension options.
- Integrate a greenhouse gas emission reduction pathway.
- Optimize the financing terms and provide more flexibility to the documentation.
- Sustainable Linked Loan (SLL) of €1.1bn (vs. €900m), incorporating an environmental performance indicator.
- Improvement of the margin grid.
- Removal of a covenant, renegotiation of certain limitations, removal of the dividend clause.
- Process 1: ESG KPI.
- Process 2: Refinancing of the syndicated loan on the basis of a detailed term sheet.
- Bilateral discussions/negotiations with all potential lenders.
Value added by Redbridge
- Maintaining healthy competition between lenders until signing.
- Ensuring that a tight timetable is met.
- Terms & Conditions: Multi-round negotiations to obtain the desired progress from lenders (even from the least supportive banks).
- Negotiating more flexible documentation.