NEOPOST RENEW ITS REVOLVING CREDIT FACILITY IN ADVANCE UNDER MORE FAVORABLE CONDITIONS
June 20 2017 - 11:45AM
Neopost REnew ITS REVOLVING CREDIT FACILITY IN
ADVANCE under more FAVORABLE CONDITIONS
Paris, June 20,
2017
Neopost, a global leader in
Digital Communications, Shipping and Mail Solutions, today
announces that it has established a new revolving euro/dollar
credit facility for an amount of €400 million.
This revolving credit facility was
renegotiated with a pool of 10 international banks for a 5-year
maturity period with 2 extension options, each lasting one year.
This transaction, which was largely oversubscribed and which was
highly successful, demonstrates the interest shown by the Neopost
Group's banking parties in the quality of its credit risk.
The conditions obtained by the
Group have improved compared with previous conditions. For
drawdowns in euros, the credit line bears a variable interest rate
calculated using the EURIBOR interest rate plus a margin between 50
and 115 basis points depending on a net debt/EBITDA[1] ratio. For
drawdowns in dollars, the rate is calculated using the LIBOR
interest rate which has risen by a margin that is 25 basis points
higher than the margin for the drawdowns in euros.
This credit facility is not
currently drawn following the financing made in February 2017 in
the Schuldschein market.
Commenting on this, Jean-François Labadie, Chief Financial
& Legal Officer, said: "We are delighted we can count on the
commitment of our long-standing banking partners who will continue
to support us in our transformation."
The Group notes that its net debt,
which came out at €763 million on January 31, 2017, is allocated to
financing leasing and postage financing activities amounting to
€798 million.
CALENDAR
Neopost'
General Meeting of shareholders will take place on June
30, 2017, in Paris.
The press
release announcing second-quarter 2017 sales and the interim 2017
financial statements will be published on September 26, 2017, after
the market close.
ABOUT NEOPOST
NEOPOST is a global leader in digital communications, shipping and
mail solutions. Its mission is to guide and support organizations
in how they send and receive communications and goods, helping them
better connect with their business environment through software and
hardware solutions. Neopost supplies innovative user-friendly
solutions for digital and physical communications management for
large enterprises and SMEs, as well as for shipping operations for
e-commerce and supply-chain players. With a strong local presence
in 29 countries and 6,000 employees, Neopost works closely with a
network of partners in order to market its solutions in more than
90 countries. In 2016, Neopost reported sales of €1.2 billion.
Neopost is listed in Compartment A of Euronext Paris and belongs
notably to the SBF 120 index. |
For more information please
contact:
Gaële Le Men, Neopost |
FTI Consulting |
Financial &
External Communications Director |
Arnaud de
Cheffontaines
Cosme Julien-Madoni |
Tel: +33 (0)1 45 36 31
39 |
Tel: +33 (0)1 47 03 68
19 |
E-mail:
g.le-men@neopost.com |
E-mail:
neopost@fticonsulting.com |
Or visit our website:
www.neopost.com
[1] Net
debt/EBITDA ratio excluding leasing portfolio calculated on January
31 of every year.
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information contained therein.
Source: NEOPOST via Globenewswire