par LAGARDERE (EPA:MMB)
Lagardère SA successfully completes its refinancing operation
Paris, 7 June 2024
Lagardère SA successfully completes its refinancing operation
Lagardère announced today that it has successfully finalised the refinancing of its financial debt.
The effective acquisition of control of Lagardère SA by Vivendi SE in November 2023 led to the early repayment of a significant portion of Lagardère SA's financial debt (amounting to approximately €1.2 billion). This repayment was financed by a loan from Vivendi SE to Lagardère SA on 12 December 2023, totaling a maximum amount of €1.9 billion and maturing on 31 March 2025.
Today, Lagardère SA completed a refinancing operation amounting to a total of €1.95 billion, which includes:
• two bank loans: one for €700 million with an initial term of 24 months, extendable up to 42 months, and one for €600 million with a term of 5 years, dedicated to repaying the €1.3 billion loan granted by Vivendi SE on 12 December 2023;
• two new shareholder loans granted by Vivendi SE to replace the loan of 12 December 2023, one amounting to €500 million with a duration of 5 years and 6 months, and the other €150 million euros, which should be partially repaid by 31 December 2024, with any remaining balance at that date being added to the €500 million loan.
Additionally, a new 5-year revolving credit facility (RCF) of €700 million has been established, replacing the syndicated revolving credit facility maturing in April 2025.
This refinancing extends the maturity of the Group's financial debt and consolidates its financial structure for the long term.
The success of this operation, conducted with a syndicate of 18 leading banking groups, demonstrates the renewed confidence of financial partners in the Lagardère group and its development strategy.
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Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 31,300 people and generated revenue of €8,081 million in 2023.
The Group focuses on three divisions: Lagardère Publishing (Books, E-Books, Partworks, Stationery, Board Games and Mobile Games), Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion and Foodservice) and Lagardère News (Paris Match, Le Journal du Dimanche and the Elle brand licence). The Group’s operating assets also include Lagardère Live Entertainment and Lagardère Paris Racing. Its consolidated financial statements also include Lagardère Radio SCA, which is wholly owned, and its subsidiaries (Europe 1, Europe 2 and RFM) controlled by Arnaud Lagardère.
Lagardère shares are listed on Euronext Paris.
www.lagardere.com
Important notice:
Some of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management’s beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements.
Please refer to the most recent Universal Registration Document filed in French by Lagardère SA with the Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties. Lagardère SA has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently, Lagardère SA accepts no liability for any consequences arising from the use of any of the above statements.
Press Contact
presse@lagardere.fr
Investor Relations Contact
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Emmanuel Rapin | Tel. +33 1 40 69 17 45 | erapin@lagardere.fr |