MILAN, Italy – Autogrill S.p.A announces today the signing of a 5-year multi-currency, medium-long term cash financing agreement for a maximum total principal amount of one billion euros with Intesa Sanpaolo S.p.A. (IMI Corporate & Investment Banking Division), UniCredit S.p.A., Banco BPM S.p.A., Bank of America Europe DAC, Mediobanca – Banca di Credito Finanziario S.p.A. and Crédit Agricole Corporate and Investment Bank, Milan Branch.
The financing agreement consists of (i) a term loan of Euro 500 millions, divided into two tranches (Tranche A up to a maximum Euro 200 millions available for Autogrill S.p.A. and Tranche B in US Dollars available for its subsidiary HMSHost Corporation up to a maximum amount of USD 360 millions) and (ii) a revolving line of Euro 500 millions available for Autogrill S.p.A. and for HMSHost Corporation (up to a maximum of USD 200 millions).
The proceeds from the financing will be primarly used to reimburse the financial indebtness and to strengthen the financial flexibility of the Group, in continuity with the extraordinary financial transactions already completed during 2021.
This financing agreement will in fact allow the Group to extend the average maturity of its debt as of 31 December 2021 from 2 to 4.5 years and to rationalize and optimize its bank indebtedness.
