Banijay Group has confirmed the successful completion of its refinancing drive to raise €2.378bn for the acquisition of Endemol Shine Group. Following positive feedback from the investor community, the business was oversubscribed and raised the full investment across Euros and U.S. Dollars with a maturity of five years; the necessary funds to re-finance the group’s existing debt, as well as that of ESG.
Banijay Group will now concentrate on completing the regulatory process. Regarding the financing process, €575 million senior secured notes due 2025, which are priced at par and have a coupon of 3.500% per annum (the “Euro Senior Secured Notes”); and $403 million senior secured notes due 2025, which are priced at par and have a coupon of 5.375% per annum (the “Dollar Senior Secured Notes”). Moreover, €400 million senior notes due 2026, which are priced at par and have a coupon of 6.500% per annum (the “Senior Notes” and together with the Euro Senior Secured Notes and Dollar Senior Secured Notes, the “Notes”); and €453 million term loan B facility, which bears interest at a rate of EURIBOR plus 3.75% per annum, with a customary margin ratchet mechanism with a 0.0% EURIBOR floor (the “EUR Term Loan B”).
Finally, $460 million term loan B facility, which bears interest at a rate of LIBOR plus 3.75% per annum, with a 0.0% LIBOR floor (together with the EUR Term Loan B, the “Senior Facilities”); and €170 million (equivalent) multicurrency Revolving Credit Facility, of which €75 million (equivalent) would be available prior to the closing of the acquisition of the Endemol Shine Group (the “Endemol Shine Acquisition”).
