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SES-imagotag completes debt refinancing credit facility, private bonds
Chicago, Dec. 22 – SES-imagotag announced a completion of a refinancing with a new credit facility agreement and a bond private placement, according to a release.
The company borrowed a €90 million amortizable term loan to refinance a bridge loan drawn for the acquisitions of Memory and BeLive. The credit agreement also includes a €60 million revolver.
Proceeds will be allocated for general corporate purposes.
The refinancing also includes the issuance of a euro private placement bond for €40 million due in 2030. Proceeds from the bond are refinancing an existing €40 million bond that matures at the end of December 2023.
There are three key performance indicators related to the group’s ESG performance. The financing will be tied to the reduction of scope 1 and 2 emissions and a reduction of scope 3 emission intensity of the value added; refurbishing electronic shelf labels; and the percentage of female managers.
BNP Paribas and Natixis CIB acted as mandated lead arrangers and bookrunners. The pool of banks includes Arkea Banque Entreprises et Institutionnels, Banque CIC Nord Ouest, BBVA SA Paris Branch, BNP Paribas, Caisse d'Epargne et de Prevoyance Ile-de-France, Credit Lyonnais, Erste Group Bank A.G., J.P. Morgan SE, Natixis CIB and Societe Generale. Natixis CIB also acted as documentation agent, ESG coordinator and facility agent.
In connection with the bond issue, Natixis CIB acted as placement agent and ESG coordinator.
France-based SES-imagotag is a world leader in smart digital labels and IoT solutions for physical retail. The company is changing its name to VusionGroup in January.
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