(AOF) – Bastide Le Confort Médical has announced that it has carried out a refinancing operation through the early renewal of its syndicated loan. “The maturity of the tranches of the loan contract is now set at 3 years with two potential additional years in the hands of the lenders,” said the specialist in the supply of medical devices and home care services.
The amount of the 1st repayable tranche is set at 25 million euros and that of the second repayable tranche in fine amounts to 170 million euros compared to 50 million previously. At the same time, the group reduced the size of its revolving credit facility from 140 to 60 million euros with, however, the possibility of mobilizing, if necessary, an additional 20 million euros through an accordion clause.
The margin applied to these credit facilities will depend on the group’s leverage ratio but also on compliance with CSR indicators defined on the basis of the pillars of the Bastide Group’s ESG strategy. The indexation mechanism put in place will make it possible to adjust the margin on its borrowing rate upwards or downwards depending on the achievement of these objectives.
“The optimization of this financing, coupled with two Euro PP-type bond issues of 25 million euros each maturing in 2023 and 2024 respectively, leave the group a wide financial latitude to pursue its development over the next few years, whether for its organic development or for external growth operations “concluded the specialist in the supply of medical devices and home care services.
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