This new facility agreement, signed with BNP Paribas, Groupe BPCE, Groupe Crédit Agricole, Groupe CM-CIC, Société Générale and La Banque Postale, has a maturity of 5 years, plus two one-year extension options at the lenders’ option (5+1+1 format).
In line with the Group's commitments in terms of social and environmental responsibility, in particular the objective of achieving zero net carbon emissions by 2030, two CSR performance indicators are included in the facility: CO2 emissions and safety at work. The contract already includes the CSR framework for these two indicators, which was negotiated with the banking pool (definitions and calculation methodologies, scope, rationale for the selection of indicators, historical performance, means implemented, publication commitments, etc.). The annual reduction trajectories for these two indicators will be defined in January 2023.
"This early refinancing of our Syndicated Loan, which was largely subscribed by our banking partners, demonstrates the credit quality of Compagnie des Alpes, and the increase of the amount from €250m to €300m reinforces our committed liquidity, in the context of the strong rebound of CDA's post-Covid activities and development ambitions" said Alexia Cadiou, Group Finance Director.
As the facility agreement is a regulated agreement, it was approved by the Board of Directors of Compagnie des Alpes SA, the directors concerned not taking part in the vote.
For this transaction, Compagnie des Alpes was advised by Redbridge Debt & Treasury Advisory as financial advisor and Gide Loyrette Nouel as legal advisor. Crédit Agricole Corporate And Investment Bank acted as Coordinator, Documentation Agent and CSR Coordinator, BNP PARIBAS acted as Facility Agent and Allen & Overy acted as Banks’ legal advisor.