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Bonduelle renegociates the conditions of its Revolving Credit Facility

Bonduelle has recently negotiated with its current lenders an additional two years extension of the termination date of its Revolving Credit Facility (from July 2017 to July 2019). The amendment agreement also introduces two extension options, of one year each, which shall give the possibility to extend the facility’s termination date to July 2021.

The original lenders which had taken part in the first operation in June 2012 have all decided to extend their participation in the facility:

  • BNP Paribas, Crédit Agricole Nord de France, Groupe BPCE acting as Mandated Lead Arrangers and Bookrunners;
  • HSBC France, Mediobanca et Groupe Société Générale acting as Mandated Lead Arrangers;
  • CIC Nord‐Ouest acting as Arranger.

Grégory Sanson, Chief Financial Officer of Bonduelle states : “we wanted to benefit from the actual good market conditions to extend our syndicated facility maturity and lower the financial terms of this facility. We are glad to see that our banking partners which first came into the credit facility in 2012 have renewed their trust in our group.”

“All the difficulty in this operation lied in achieving unanimity among the banks on substantial amendments in a short timing. We have sought to align our financial conditions on acceptable and market practice terms considering our good credit profile” adds Alexis Wattinne, Group Treasurer of Bonduelle.

For Augustin Huyghues Despointes, Senior Associate Debt Advisory at bfinance: “it is essential to take into account several factors before launching an Amend & Extend request, especially refinancing costs, economic capital utilization or overall profitability of the relationship which all remain key consideration in the banks’ decision‐making.”

Bonduelle was also advised in this operation by Eduardo Fernandez from the law firm Willkie Farr & Gallagher. The banks were advised by the law firm Hogan Lovells and by Crédit Agricole Nord de France acting as facility agent.

RP carrées Netco Group
63, rue d'Angleterre
59000 Lille

Vanessa VAZZAZ : 03 28 52 07 42
www.rp-carrees.com


Présentation du groupe

Bonduelle group

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