10 FEB 2020

BANIJAY RAISES €2.378 BILLION 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.

Share

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”).

Tags