Elis successfully priced Schuldschein private placement

27 November 2017

FRANCE

Elis, a leading multi-services group in Europe and Latin America, specialising in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances, announced on 23 November that it has raised 75 million euros through a multi-tranche private placement issued under German law (Schuldschein loan) under favourable terms from the market. This Schuldschein loan was arranged by HSBC. 

The successful completion of the placement allows Elis to continue the repayment of the bridge loan that financed the Berendsen acquisition. It also demonstrates Elis's ability to diversify its sources of funding and is a further sign of investor confidence in the company's development strategy.

The funds have fixed and floating coupons representing respectively 46% and 54% of the total amount. The amount raised is split as follows:

  • 15% maturing in 3 years with a credit margin in euros of 1.3%,
  • 28% maturing in 4 years with a credit margin in euros of 1.4%,
  • 23% maturing in 5 years with a credit margin in euros of 1.5%,
  • 34% maturing in 7 years with a credit margin in euros of 1.75%. 

Elis announced the completion of the acquisition of Berendsen, the European textile, hygiene and safety solution company on 12 September this year.

 



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