Viridien Secures $450 Million Through Senior Secured Notes
Viridien Successfully Issues Senior Secured Notes
Recently, Viridien made a significant financial move by successfully issuing $450 million in 10% Senior Secured Notes due in 2030 and €475 million in 8.5% Senior Secured Notes, also due in 2030. This issuance marks a crucial step for the company, providing an opportunity to bolster its financial position and support its ongoing projects.
Key Features of the Notes
These Notes will be guaranteed on a senior secured basis by various subsidiaries of Viridien. This level of security adds an essential layer of assurance for investors, signaling confidence in Viridien’s market strategy and financial management.
Strengthening Financial Infrastructure
In a complementary move, Viridien has also established a $125 million super senior Revolving Credit Facility Agreement. This agreement is secured by the same assets backing the issued Notes. Although the company has yet to draw funds from the RCF, it has utilized part of it for ancillary guarantees, showcasing prudent financial strategies in managing its resources.
Redemption of Existing Notes
Notably, the issuance of the new Notes was contingent upon redeeming all of Viridien’s existing senior secured notes due in 2027. The company has now fulfilled this condition, paving the way for a smoother financial transition and allowing Viridien to focus on future growth without the burden of existing debts.
Utilization of Proceeds
The net proceeds from this significant financing round will be strategically used to fulfill obligations related to the redeemed notes. Additionally, cash reserves will support the funding of associated fees and expenses. This thoughtful allocation of resources demonstrates Viridien's commitment to financial responsibility and operational excellence.
About Viridien
Viridien is an innovative tech company at the leading edge of digital and Earth data solutions. It aims to expand the frontiers of scientific research to promote a sustainable and prosperous future. With a workforce of around 3,400 dedicated professionals, Viridien stands committed to addressing complex challenges — from natural resource management to the energy transition — with smart and responsible solutions. Listed under the ticker VIRI on Euronext Paris, the company continues to garner attention in the market.
Looking Ahead
As Viridien continues to evolve, its proactive financial maneuvers and dedication to innovation will likely position it favorably within the competitive landscape of technology and resources management. Stakeholders can expect further strategic initiatives that reflect the company’s vision for sustainable development and growth.
Contact Information
For inquiries, you can reach out to the Investor Relations team at Viridien. Jean-Baptiste Roussille is the head contact:
Email: jean-baptiste.roussille@viridiengroup.com
Phone: +33 6 14 51 09 88
Frequently Asked Questions
What are the Senior Secured Notes issued by Viridien?
The Senior Secured Notes are financial instruments totaling $450 million, offering investors a fixed interest rate of 10% and maturing in 2030.
What is the purpose of the Revolving Credit Facility Agreement?
The Revolving Credit Facility is intended to provide additional financial flexibility and support, secured by the same assets backing the issued Notes.
How does the new issuance impact existing notes?
The issuance facilitates the redemption of earlier notes due in 2027, thereby eliminating existing debt obligations and enhancing financial stability.
What sectors does Viridien operate within?
Viridien operates within technology, digital services, and Earth data, focusing on sustainable resource management and innovation in infrastructures.
How can investors get in touch with Viridien?
Investors can reach the Investor Relations team via email at jean-baptiste.roussille@viridiengroup.com or by phone at +33 6 14 51 09 88.
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