Global Blue Announces Repricing of Term Loan and Revolving facility
May 03 2024 - 7:16AM
Business Wire
Global Blue Group Holding AG (the “Company”) (NYSE:GB) has
continued to demonstrate a robust recovery, underpinned by the
entrenched behaviour of travel and shopping, driving significant
EBITDA and cash flow growth. Consequently, net leverage reduced
from 4.5x in September 2023 to 3.6x in December 2023, with the
downward trajectory continuing, as the Company continues to
actively de-lever towards its public leverage target of less than
2.5x. In light of this ongoing recovery and deleveraging
trajectory, the Company launched a repricing of its seven year €610
million senior secured term loan (“Term Loan”) and €97.5 million
senior secured revolving credit facility (“Revolving
Facility”).
The Company today announced that its subsidiary Global Blue
Acquisition B.V. (the “Borrower”) has successfully allocated the
repricing of Term Loan and Revolving Facility. The repricing is
expected to close on or prior to 30 June 2024 and upon closing will
reduce the interest rate margin applicable to the Borrower under
the Term Loan by 100 basis points from 5.00% p.a. to 4.00% p.a. and
the Revolving Facility by 100 basis points from 4.50% to 3.50%, in
each case subject to further reduction pursuant to a margin ratchet
based on leverage.
ABOUT GLOBAL BLUE
Global Blue is the business partner for the shopping journey,
providing technology and services to enhance the experience and
drive performance.
With over 40 years of expertise, today we connect thousands of
retailers, acquirers, and hotels with nearly 80 million consumers
across 53 countries, in three industries: Tax Free Shopping,
Payments and Post-Purchase solutions.
With over 2,000 employees, Global Blue generated €20bn Sales in
Store and €311M revenue in FY 2022/23. Global Blue is listed on the
New York Stock Exchange.
For more information, please visit www.globalblue.com
Source: Global Blue
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version on businesswire.com: https://www.businesswire.com/news/home/20240503738756/en/
FOR FURTHER INFORMATION Frances Gibbons – Head of
Investor Relations Mob: +44 (0)7815 034 212 Mail:
fgibbons@globalblue.com
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