Neopost REnew ITS REVOLVING CREDIT FACILITY IN ADVANCE under more FAVORABLE CONDITIONS
Paris, June 20, 2017
Neopost, a global leader in Digital Communications, Shipping and Mail Solutions, today announces that it has established a new revolving euro/dollar credit facility for an amount of €400 million.
This revolving credit facility was renegotiated with a pool of 10 international banks for a 5-year maturity period with 2 extension options, each lasting one year. This transaction, which was largely oversubscribed and which was highly successful, demonstrates the interest shown by the Neopost Group's banking parties in the quality of its credit risk.
The conditions obtained by the Group have improved compared with previous conditions. For drawdowns in euros, the credit line bears a variable interest rate calculated using the EURIBOR interest rate plus a margin between 50 and 115 basis points depending on a net debt/EBITDA [1] ratio. For drawdowns in dollars, the rate is calculated using the LIBOR interest rate which has risen by a margin that is 25 basis points higher than the margin for the drawdowns in euros.
This credit facility is not currently drawn following the financing made in February 2017 in the Schuldschein market.
Commenting on this, Jean-François Labadie, Chief Financial & Legal Officer, said: "We are delighted we can count on the commitment of our long-standing banking partners who will continue to support us in our transformation."
The Group notes that its net debt, which came out at €763 million on January 31, 2017, is allocated to financing leasing and postage financing activities amounting to €798 million.
CALENDAR
Neopost' General Meeting of shareholders will take place on June 30, 2017, in Paris .
The press release announcing second-quarter 2017 sales and the interim 2017 financial statements will be published on September 26, 2017, after the market close.
| ABOUT NEOPOST NEOPOST is a global leader in digital communications, shipping and mail solutions. Its mission is to guide and support organizations in how they send and receive communications and goods, helping them better connect with their business environment through software and hardware solutions. Neopost supplies innovative user-friendly solutions for digital and physical communications management for large enterprises and SMEs, as well as for shipping operations for e-commerce and supply-chain players. With a strong local presence in 29 countries and 6,000 employees, Neopost works closely with a network of partners in order to market its solutions in more than 90 countries. In 2016, Neopost reported sales of €1.2 billion. Neopost is listed in Compartment A of Euronext Paris and belongs notably to the SBF 120 index. |
For more information please contact:
| Gaële Le Men, Neopost | FTI Consulting |
| Financial & External Communications Director | Arnaud de Cheffontaines Cosme Julien-Madoni |
| Tel: +33 (0)1 45 36 31 39 | Tel: +33 (0)1 47 03 68 19 |
| E-mail: g.le-men@neopost.com | E-mail: neopost@fticonsulting.com |
Or visit our website: www.neopost.com
[1] Net debt/EBITDA ratio excluding leasing portfolio calculated on January 31 of every year.
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