Elis signs a new 10-year USPP financing for $175 million

  

Elis signs a new 10-year USPP financing for $175 million

  

Saint Cloud, June 1^st, 2022 – Elis announces today it has signed a new $175 million USPP financing with a group of US investors led by Barings. The new notes have a 10-year maturity (June 2032) and will offer to the investors a 4.32% coupon in dollar. The notes have been swapped in euro for a total amount of €159 million by Elis which will pay at the end a 3% coupon in euro.

Combined with the proceeds of the recent €300 million bond issue maturing in May 2027, this new USPP financing will be dedicated to the refinancing of the €450 million Notes due 15 February 2023, which will be callable without any penalty from 15 November 2022.

After a first 10 years USPP financing signed in April 2019 for €300 million and $40 million, this second USPP financing with a long maturity and competitive pricing demonstrates the reinforced confidence of Barings and the other related US investors in the Group's business model.

This transaction, which is part of the Group’s active refinancing strategy, contributes to extend the average maturity of the company indebtedness.

Commenting on this announcement, Emeka Onukwugha, Head of Barings Private Debt Group, said: “After a first transaction in 2019, Barings is excited to further strengthen its lending relationship with Elis through this new long-term financing. It will allow the company to gain visibility and maturity on its debt profile and support its ambitious growth strategy”.

This announcement is not an offer to sell or a solicitation of an offer to buy the securities mentioned herein in any jurisdiction where such offer or sale would be unlawful. In particular, this announcement should not be published, distributed or released in the United States, in Australia or in Japan.

Securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless they are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available. The securities mentioned in this announcement have not been and will not be registered under the Securities Act, and Elis has no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.

Contact

Nicolas Buron - Directeur des Relations Investisseurs - Tél : + 33 (0)1 75 49 98 30 - nicolas.buron@elis.com

Attachment

• Elis - $175m USPP financing - Press release