Cegedim: New €230 million financing arrangement
31 Luglio 2024 - 5:45PM
Financial information IFRS - Regulated information
Cegedim: New €230 million financing
arrangement
- €180 million
refinancing loan
- €50 million
revolving credit facility
Boulogne-Billancourt, France, July 31, 2024, after the
market close
Cegedim has secured a
new financing arrangement consisting of a €230 million syndicated
loan. The arrangement is split into €180 million of lines drawn
upon closing to refinance the Group’s existing debt (RCF and Euro
PP, which mature in October 2024 and October 2025 respectively) and
an additional revolving credit facility (RCF) of €50 million. This
new financing arrangement will bolster the Group’s liquidity and
extend the maturity of its debt.
The syndicated loan, arranged by LCL (lead) and
Crédit Agricole Ile-de-France, consists of a 5-year, €30 million
Tranche A repayable in €3 million increments every six months; a
6-year, €60 million Tranche B repayable upon maturity; and a
7-year, €90 million Tranche C repayable upon maturity. With an
additional 5-year, €50 million RCF with an optional 1-year
extension, undrawn at the closing, all the Group’s financing needs
are covered.
Like its previous borrowings, the new syndicated
loan is governed by the standard commitment and default clauses
customarily included in this type of agreement and subject to
financial ratio covenants: The Group must ensure that its leverage
ratio is less than 2.50 and its interest cover ratio is greater
than 4.50.
To secure this financing, the Group has fully
pledged its shares in its subsidiaries Cegedim Media, Cegedim
Activ, and GERS, and partially pledged those of cegedim.cloud. The
Group undertakes not to sell its shares in Cegedim Santé, Resip, or
Cetip without the consent of its lenders.
Cegedim was advised by ODDO BHF (financial) and
the firm of Norton Rose Fulbright (legal).
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NoticeThis press release is available in
French and in English. In the event of any difference between the
two versions, the original French version takes precedence. This
press release may contain inside information. It was sent to
Cegedim’s authorized distributor on July 31, 2024, no earlier than
5:45 pm Paris time. |
|
About Cegedim:Founded in 1969, Cegedim is an
innovative technology and services group in the field of digital
data flow management for healthcare ecosystems and B2B, and a
business software publisher for healthcare and insurance
professionals. Cegedim employs more than 6,500 people in more than
10 countries and generated revenue of €616 million in 2023. Cegedim
SA is listed in Paris (EURONEXT: CGM).To learn more please visit:
www.cegedim.frAnd follow Cegedim on Twitter @CegedimGroup, LinkedIn
and Facebook. |
| Aude
BalleydierCegedimMedia Relations and
Communications ManagerTel.: +33 (0)1 49 09 68
81aude.balleydier@cegedim.fr |
Damien
BuffetCegedimHead of Financial
Communication Tel.: +33 (0)7 64 63 55
73damien.buffet@cegedim.com |
Céline
Pardo BecomingMedia Relations
Tel.: +33 (0)6 52 08
13 66cegedim@becoming-group.com |
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- Cegedim_NewFinancingArrangement 20240731_EN
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