Mediawan: Success of the Refinancing Project for €230 Million
November 21 2018 - 11:45AM
Business Wire
- Significant oversubscription of
commitments received from 9 French and international banks
- Refinancing of existing facilities
for €150m, with significant extension of maturity dates and
improved financial conditions
- €80m of additional facilities made
available to finance future external growth operations
- Financial debt concentrated at
Mediawan SA level, enabling a Group’s financial strategy and
centralized cash management
Regulatory News:
Mediawan (Paris:MDW) announces today the execution of
agreements foreseeing the setting up of additional credit for a
total of 230 million euros with a pool of 9 French and
international banks.
This bank credit facility, maturing in mid-2024, will consist
in:
- a €150 million credit facilities aimed
at refinancing its existing credits, with significantly improved
financial conditions and noteworthy documentation reflecting the
Group’s financial solidity; and
- €80 million of additional
facilities made available to finance future external growth
operations.
Mediawan will thus strengthen its balance sheet structure,
obtaining the necessary resources to pursue its external growth
strategy, notably abroad.
Moreover, this operation will enable the Group to consolidate
its financial debt (excluding production credits) at Mediawan SA
level, in order to implement an integrated financing strategy and
centralize the Group’s cash management.
Mediawan is benefiting from the support of its longstanding
banking partners while enabling new institutions to participate in
the Group’s growth, thanks to significantly higher subscription
commitments exceeding the sums requested.
The closing and the funds shall be made available upon
finalization of the credit documentation, and is subject to
Mediawan’s Supervisory Board approval.
Pierre-Antoine Capton, Mediawan’s Chairman of the Management
Board, says: “This financing’s success illustrates Mediawan’s
attractiveness and confidence from our banking partners. The
integrated financial strategy’s implementation marks another
milestone of Mediawan’s Group structuring, which now has expanded
resources to carry our future external growth operations”.
About Mediawan
Mediawan was incorporated in December 2015 as a Special Purpose
Acquisition Company (SPAC) by Pierre-Antoine Capton, Xavier Niel
and Matthieu Pigasse, and the following year raised €250 million
through an IPO on the Euronext regulated market in Paris. Mediawan
has carried out 7 strategic acquisitions since March 2017, thus
consolidating a new independent player in audiovisual content with
a leading position in Europe. The Group operates on 4 segments: the
production of original fiction and documentary content, the running
of animated brands, the distribution of audiovisual content and the
publishing of channels and digital services.
Mediawan, an independent European audiovisual content platform
is listed on Euronext Paris Compartment B.
Eligible to PEA-PME - ISIN: FR0013247137 - Ticker: MDW
For further information, please visit the Mediawan website
(www.mediawan.fr).
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MEDIAWANinvestors@mediawan.eupress@mediawan.eu
NewCapInvestor RelationsThomas
Grojeanmediawan@newcap.euTel: +33 (0)1 44 71 98 55
NewCapMedia RelationsNicolas
Merigeaumediawan@newcap.euTel: +33 (0)1 44 71 98 55