THEON Secures Major Financial Agreement
THEON International Plc (THEON) has recently taken a significant step forward by signing a new senior facility agreement totaling €300 million with a group of nine prominent international and Greek banks.
Details of the Financial Agreement
This newly established revolving credit facility boasts a five-year tenor, with the potential to increase up to €400 million if necessary. The capital raised through this agreement is intended for the refinancing of existing short-term debt while simultaneously supporting general corporate purposes and potentially facilitating larger acquisitions in the future.
Involved Parties in the Agreement
Leading the agreement is BNP Paribas, which has acted as the bookrunner and coordinator. Commerzbank has taken on the role of facility agent. Additionally, legal advisory duties were handled by Norton Rose Fulbright for THEON, while Ashurst served as the legal advisor for the banking syndicate.
Comment from THEON’s CFO
Dimitris Parthenis, the Group CFO of THEON, expressed his pride regarding the new facility: "We are proud to have secured this facility with robust backing from leading financial institutions, reflecting their confidence in Theon’s future plans. This agreement, established on favorable terms, supports our continuous organic and inorganic growth ambitions by enhancing our financial flexibility and increasing our ability to react fast if any opportunities arise in the future.”
Upcoming Events
In the midst of these developments, THEON will present its Q3 trading update on November 3. Furthermore, the company is set to hold a Capital Markets Day on November 6 in Athens, which will delve into the THEON NEXT Vision & Strategy, providing insights into their long-term objectives and direction.
About THEON GROUP
Established in 1997, THEON GROUP specializes in the innovation of state-of-the-art night vision and thermal imaging systems tailored for defense and security purposes. With a footprint that spans globally, THEON has solidified its position as a leader in the sector, maintaining subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore, and South Korea. The company has equipped over 220,000 systems, serving Armed and Special Forces across 71 countries, including 26 NATO member countries. Since February 2024, THEON INTERNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON).
Contact Information
For any inquiries, please reach out to:
Investor Relations:
Nikos Malesiotis
E-Mail: ir@theon.com
Tel: +30 210 6772290
Media Contact:
Elli Michou
E-Mail: press@theon.com
Tel: +30 210 6728610
Frequently Asked Questions
What is the purpose of the €300 million facility agreement?
The agreement aims to refinance existing short-term debt, support general corporate activities, and potentially fund larger acquisitions.
Which banks are involved in this facility agreement?
A syndicate of nine leading international and Greek banks participated in the agreement.
What is the timeframe for the revolving credit facility?
The facility has a tenor of five years but can be upsized to €400 million if needed.
Who acted as the lead financial advisor for THEON?
Norton Rose Fulbright served as the lead advisor for THEON in this financial agreement.
When will THEON present its trading update?
THEON will present its Q3 trading update on November 3.
