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06/14/2018
Corporate news

COFACE SA announces €300m syndicated loan agreement for its Polish subsidiary Coface Poland Factoring

COFACE SA announces €300m syndicated loan agreement for its Polish subsidiary Coface Poland Factoring

As part of the refinancing of its factoring activity, Coface Poland Factoring signed an agreement with a group of banking partners for a €300m syndicated multicurrency loan (EUR, PLN) on 8 June 2018. This syndicated loan partly replaces existing bilateral credit lines.

The Group’s Polish subsidiary is supported by seven banking partners: Crédit Agricole CIB, HSBC, ING Bank Ślaski and Natixis, acting as Mandated Lead Arrangers and Bookrunners, Banco Santander, Commerzbank and Société Générale CIB, acting as Mandated Lead Arrangers. Natixis is acting as Documentation Agent and Crédit Agricole CIB as Facility Agent.

The loan is put in place for two years, with an option to extend its duration by one year, exercisable once, subject to the banks’ agreement.

This operation enables the Group to increase its financial flexibility and to extend the maturity of its refinancing debt, whilst benefiting from current favorable market conditions and strengthening its relationships with its leading banks, who thus confirm their commitment to Coface over the mid-term.

 

Carine Pichon, Chief Financial & Risk Officer, commented:

« We are pleased to implement a syndicated loan agreement for our Polish subsidiary, which allow us to support its profitable growth. By simplifying its structure and prolonging the average maturity of our debt, this loan agreement is fully aligned with the financial objectives of our strategic plan, Fit to Win. »

Download this press release : COFACE SA announces €300m syndicated loan agreement for its Polish s... (297.93 kB)

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