Latest news with #CHF
Yahoo
2 days ago
- Business
- Yahoo
gategroup Successfully Prices Refinancing Transaction, Paving the Way for Growth and Market Expansion
gategroup Holding AG ('gategroup') is pleased to announce the successful pricing of its comprehensive refinancing package, comprising two term loans of EUR 675 million and USD 500 million, both with a tenure of 7 years, and a CHF 300 million multicurrency revolving credit facility (the 'new financing') with a tenure of 6.5 years. The transaction was significantly oversubscribed and priced at the tighter end of guidance - strongly underscoring market confidence in gategroup's strategy and performance. This transaction represents gategroup's debut as a Term Loan B (TLB) issuer, and the company is pleased to have attracted strong demand from leading global institutional investors. The level of interest received highlights the trust placed in gategroup's credit profile, operational resilience, and future growth potential. The New Financing is backed by a syndicate of top-tier global financial institutions and supports the refinancing of existing loans, notably the EUR 250 million Term Loan A and the CHF 415 million revolving credit facility, while also improving liquidity and flexibility. 'This successful refinancing marks a pivotal milestone for us,' said Christoph Schmitz, Chief Executive Officer of gategroup. 'The broad-based support from a large group of premier banking partners and top global funds is a powerful endorsement of our business and strategy. This transaction diversifies gategroup´s funding base and allows us to invest in long-term initiatives, expand our global footprint, and further elevate our market-leading services in airline catering and hospitality.' With the anticipated upgrade in its corporate credit rating to B2 (stable) / B+ (stable) by Moody's and S&P Global respectively, gategroup gains improved access to capital markets. The refinancing significantly enhances the company's capital structure and positions it for sustainable growth and value creation. Urs Schwendinger, Chief Financial Officer of gategroup, added: 'We are extremely pleased with the outcome of this transaction, which despite volatile market conditions has achieved several notable milestones among deals launched post-the US tariff announcements, including the largest cross-border loan issuance, largest debut issuance, and in its segment and rating universe, the largest new money loan deal and the largest Swiss issuance.'For media and investor inquiries, please contact: IR@ mediacontact@ About gategroup gategroup is the global leader in airline catering, retail-on-board, and hospitality products and services. Headquartered in Zurich, Switzerland, gategroup operates over 200 units in more than 60 countries, delivering culinary and retail excellence to passengers across all continents. Learn more at schließt Refinanzierung erfolgreich ab und ebnet den Weg für weiteres Wachstum und Marktexpansion Die gategroup Holding AG ('gategroup') freut sich, den erfolgreichen Abschluss und die Preisfestsetzung ihres umfassenden Refinanzierungspakets bekannt zu geben. Die neue Finanzierung umfasst zwei Term Loan B Instrumente in Höhe von EUR 675 Mio. und USD 500 Mio., beide mit einer Laufzeit von 7 Jahren, und eine revolvierende Kreditfazilität in Höhe von CHF 300 Mio. mit einer Laufzeit von 6,5 Jahren (die 'Neue Finanzierung'). Die Transaktion war deutlich überzeichnet und wurde zu attraktiven Konditionen abgeschlossen, was das Vertrauen der Märkte in gategroups Strategie und finanzielle Stärke unterstreicht. Mit dieser Emission tritt gategroup erstmals als Term Loan B Emittentin auf, und das Unternehmen freut sich über die starke Nachfrage von führenden globalen institutionellen Investoren. Das große Interesse unterstreicht das Vertrauen in gategroups Marktposition, die operative Leistungsfähigkeit und das zukünftige Wachstumspotenzial. Die Neue Finanzierung wird von einem Konsortium erstklassiger internationaler Finanzinstitute unterstützt und dient der Refinanzierung bestehender Kredite, insbesondere des EUR 250 Mio. Term Loan A und der existierenden revolvierenden Kreditfazilität in Höhe von CHF 415 Mio. Sie verbessert gleichzeitig die Liquidität und Flexibilität der Gruppe. 'Diese erfolgreiche Refinanzierung ist ein entscheidender Meilenstein für uns', sagt Christoph Schmitz, Chief Executive Officer von gategroup. 'Die breite Unterstützung durch eine große Gruppe führender Bankenpartner und globaler Top-Fonds sind ein starkes Signal für unser Geschäft, unsere Kunden und unsere Strategie. Die Transaktion schafft neue Optionen und ermöglicht es uns in langfristige Projekte zu investieren, unsere globale Präsenz auszubauen und unsere marktführenden Dienstleistungen im Bereich Airline-Catering und Hospitality weiter zu verbessern.' Mit der erwarteten Verbesserung des Unternehmensratings auf B2 (stabil) / B+ (stabil) durch Moody's bzw. S&P Global erhält gategroup einen verbesserten Zugang zu den internationalen Kapitalmärkten. Die Refinanzierung verbessert die Kapitalstruktur des Unternehmens erheblich und positioniert es für nachhaltiges Wachstum und Wertschöpfung. Urs Schwendinger, Chief Financial Officer von gategroup, fügt hinzu: 'Wir sind äußerst zufrieden mit dem Ergebnis dieser Transaktion, die trotz volatiler Marktbedingungen mehrere nennenswerte Merkmale unter den nach der Ankündigung der US-Zölle lancierten Finanztransaktionen aufweist, darunter die größte grenzüberschreitende Term Loan B Emission, die größte Emission einer 'First Time' Emittentin und in ihrem Segment und Rating-Universum die größte Neugelddarlehens-Transaktion' Für Medien- und Investorenanfragen wenden Sie sich bitte an: IR@ mediacontact@ Über gategroup gategroup ist der weltweit führende Anbieter von Airline-Catering, Retail-on-Board und Hospitality-Produkten und Dienstleistungen. Mit Hauptsitz in Zürich, Schweiz, betreibt gategroup über 200 Betriebe in mehr als 60 Ländern, die Passagieren auf allen Kontinenten kulinarische und einzelhandelsbezogene Spitzenleistungen bieten. Erfahren Sie mehr unter
Yahoo
2 days ago
- Business
- Yahoo
Ad hoc announcement pursuant to Art. 53 of the SIX Swiss Exchange Listing Rules: gategroup announces pricing for new term loans and revolving credit facility financing
gategroup Holding AG and its subsidiaries (together "gategroup") are announcing that they have priced a EUR 675 million term loan, a USD 500 million term loan and a multicurrency revolving credit facility in an amount of CHF 300 million (the 'New Financing'). The key terms of the New Financing are as follows: Currency EUR USD Multicurrency Amount 675 million 500 million CHF 300 million Borrower(s) gategroup Finance International S.à.r.l (Luxembourg) gategroup Finance International S.à.r.l (Luxembourg) and gategroup US Finance, Inc. (USA) gategroup Finance Switzerland GmbH (Switzerland) Maturity 7 years 7 years 6.5 years Opening Margin E +425 bps p.a. S +425 bps p.a. +350 bps p.a. Issue Price 99.5 99.5 100.0 Guarantees / Security The New Financing will be guaranteed and secured by material group companies – security consisting of security over shares of certain material group companies, security over certain structural intercompany loans, certain material operating bank accounts and with respect to obligors incorporated in the United States of America a customary all personal asset security. gategroup intends to use the proceeds to refinance certain existing loans of the group, including a refinancing of the existing term loan A in the amount of EUR 250 million and the existing revolving credit facility in the amount of EUR 415 million, as well as certain other loans, pay accrued interest, transaction fees and for general corporate purposes. As a result of the New Financing, gategroup expects an upgrade of its corporate credit rating to B2 (stable) / B+ (stable) upon closing. Closing of the New Financing is expected within coming weeks. Media and investor inquiries:IR@ Contact: mediacontact@ About gategroup gategroup is the global leader in airline catering, retail-on-board and hospitality products and services. gategroup provides passengers with superior culinary and retail experiences, leveraging innovation and advanced technology solutions. Headquartered in Zurich, Switzerland, gategroup delivers operational excellence through the most extensive catering network in the aviation industry, serving passengers from over 200 operating units in over 60 countries/territories across all continents. For further information, please visit Forward-looking informationMatters discussed in this announcement may constitute forward-looking statements, including statements relating to the New Financing, including the intended use of proceeds therefrom. Forward-looking statements are statements that are not historical facts and may be identified by words such as 'believe', 'aims', 'expect', 'anticipate', 'intends', 'estimate', 'will', 'may', 'continue', 'should' and similar expressions. The forward-looking statements in this release are subject to risks, uncertainties, contingencies and other important factors that could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. gategroup expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
3 days ago
- Business
- CNBC
These stocks could be winners if Trump devalues the U.S. dollar, according to Jefferies
Stocks with large amounts of overseas revenue and strong pricing power could outperform if the U.S. engineers an effective dollar devaluation as part of White House trade talks, according to Jefferies. The greenback has already slipped around 7% on the year, and although there doesn't appear to be a blatant catalyst to drive it further lower — Jefferies Global head of FX Brad Bechtel predicts a major regime change ahead. Specifically, Bechtel believes that a tacit agreement worked into trade negotiations with China could drag the USD down 15%. "An agreement — particularly with China — to weaken the USD could result in its first prolonged devaluation in 20Y+," he wrote in a recent note. "This would increase the competitiveness of U.S. exports, bolster U.S. manufacturing and potentially lift the Chinese consumer by aiding domestic consumption." "In short, this is more of a win-win solution than a diligent and protracted trade deal process," Bechtel added. To that end, in the same note Jefferies analysts shared some stocks that could win big if the U.S. dollar does end up devaluing. These stocks all have the following characteristics: Revenue with significant overseas exposure, especially to China Considerable direct competition that is foreign domiciled Potential for pricing power as a commodity-driven business or service In the health care sector, Jefferies singled out life sciences stock Danaher as a winner should the greenback continue to weaken. Shares of Danaher have tumbled 18% this year, but the price target of $230 is approximately 22% above the stock closed on Monday afternoon. Jefferies currently has a buy rating on the company. The bank also singled out Repligen as a potential winner, although Jefferies sees the stock currently as a hold. "We view DHR and RGEN as particularly well positioned and note that both companies also have considerable ex-U.S. revenue exposure (~55% each)," Jefferies wrote. Meanwhile, in the consumer sector buy-rated Nike has a leg up over its peers, Jefferies said. "We think NKE is poised to benefit from improving trade balances both with China and Globally," the bank wrote. "We forecast 52% of NKE's revenues will come from International for FY'25, with 15% coming from Mainland China specifically. The value of these revenues will increase as the USD devalues." Jefferies added: "Additionally, if the Euro and the CHF continue to appreciate, this can further increase NKE's competitiveness considering its key peers — Adidas, Puma and On — are European companies." Shares of Nike have stumbled 17% in 2025. Jefferies' $115 price target is 83% above where the stock closed on Tuesday. Netflix, another name Jefferies has a buy rating on, has surged 36% this year. The stock closed at $1,211.51 could rally another TK% to Jefferies' $1,200 per share price target. "A weakened USD should support NFLX on reaching the high-end of its FY25 rev guide of $43.5-44.5B," the bank wrote. "It would also benefit its industry leading operating margins, giving it further earnings/FCF available for content investment vs. peers."
Yahoo
3 days ago
- Business
- Yahoo
Galderma Buys Back Shares Worth CHF 233 Million in the Context of Accelerated Bookbuild Offering
Ad hoc announcement pursuant to Art. 53 LR ZUG, Switzerland, May 28, 2025--(BUSINESS WIRE)--Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that it has agreed to repurchase 2.38 million shares at a price of CHF 97.75 per share for a total consideration of CHF 232.5 million in the context of the accelerated bookbuild offering ("ABO") of Galderma shares by Sunshine SwissCo GmbH ("EQT"), Abu Dhabi Investment Authority and Auba Investment Pte. Ltd. launched yesterday evening. The repurchase was made at the same price per share determined by the bookbuilding offering. The repurchase, which is expected to settle on June 2, is being financed by Galderma's existing liquidity on hand and will not affect the company's ability to deliver on its strategic and financing priorities. The shares will be held in treasury for future use in connection with Galderma's employee participation plans, business development opportunities and/or treasury management. "The repurchase of shares announced today is a testament to the confidence of the Executive Committee and the Board of Directors in the performance fundamentals and the attractive shareholder value creation outlook of Galderma. The participation in the offering reflects our continued focus on disciplined capital allocation, commitment to attractive shareholder returns and our confidence in Galderma's strong cash generation and investment grade balance sheet." FLEMMING ØRNSKOV, M.D., MPH CHIEF EXECUTIVE OFFICER GALDERMA Following the closing of the ABO, the free float in Galderma's shares is expected to increase from 41.8% to 49.8%. About GaldermaGalderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body's largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: Forward-looking statements Certain statements in this announcement are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", " believes", "expects", "anticipates", "intends", "estimates", "will", "may", "continues", "should" and similar expressions. These forward-looking statements reflect, at the time, Galderma's beliefs, intentions and current targets/ aims concerning, among other things, Galderma's results of operations, financial condition, industry, liquidity, prospects, growth and strategies and are subject to change. The estimated financial information is based on management's current expectations and is subject to change. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results may differ from those set forth in the forward-looking statements as a result of various factors (including, but not limited to, future global economic conditions, changed market conditions, intense competition in the markets in which Galderma operates, costs of compliance with applicable laws, regulations and standards, diverse political, legal, economic and other conditions affecting Galderma's markets, and other factors beyond the control of Galderma). Neither Galderma nor any of their respective shareholders (as applicable), directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak of the date of this announcement. Statements contained in this announcement regarding past trends or events should not be taken as a representation that such trends or events will continue in the future. Some of the information presented herein is based on statements by third parties, and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, reasonableness, accuracy, completeness or correctness of this information or any other information or opinions contained herein, for any purpose whatsoever. Except as required by applicable law, Galderma has no intention or obligation to update, keep updated or revise this announcement or any parts thereof. View source version on Contacts For further information: Christian Marcoux, Communications +41 76 315 26 50 Richard HarbinsonCorporate Communications +41 76 210 60 62 Emil IvanovHead of Strategy, Investor Relations, and +41 21 642 78 12 Jessica CohenInvestor Relations and Strategy +41 21 642 76 43
Yahoo
3 days ago
- Business
- Yahoo
Galderma Buys Back Shares Worth CHF 233 Million in the Context of Accelerated Bookbuild Offering
Ad hoc announcement pursuant to Art. 53 LR ZUG, Switzerland, May 28, 2025--(BUSINESS WIRE)--Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that it has agreed to repurchase 2.38 million shares at a price of CHF 97.75 per share for a total consideration of CHF 232.5 million in the context of the accelerated bookbuild offering ("ABO") of Galderma shares by Sunshine SwissCo GmbH ("EQT"), Abu Dhabi Investment Authority and Auba Investment Pte. Ltd. launched yesterday evening. The repurchase was made at the same price per share determined by the bookbuilding offering. The repurchase, which is expected to settle on June 2, is being financed by Galderma's existing liquidity on hand and will not affect the company's ability to deliver on its strategic and financing priorities. The shares will be held in treasury for future use in connection with Galderma's employee participation plans, business development opportunities and/or treasury management. "The repurchase of shares announced today is a testament to the confidence of the Executive Committee and the Board of Directors in the performance fundamentals and the attractive shareholder value creation outlook of Galderma. The participation in the offering reflects our continued focus on disciplined capital allocation, commitment to attractive shareholder returns and our confidence in Galderma's strong cash generation and investment grade balance sheet." FLEMMING ØRNSKOV, M.D., MPH CHIEF EXECUTIVE OFFICER GALDERMA Following the closing of the ABO, the free float in Galderma's shares is expected to increase from 41.8% to 49.8%. About GaldermaGalderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body's largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: Forward-looking statements Certain statements in this announcement are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", " believes", "expects", "anticipates", "intends", "estimates", "will", "may", "continues", "should" and similar expressions. These forward-looking statements reflect, at the time, Galderma's beliefs, intentions and current targets/ aims concerning, among other things, Galderma's results of operations, financial condition, industry, liquidity, prospects, growth and strategies and are subject to change. The estimated financial information is based on management's current expectations and is subject to change. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results may differ from those set forth in the forward-looking statements as a result of various factors (including, but not limited to, future global economic conditions, changed market conditions, intense competition in the markets in which Galderma operates, costs of compliance with applicable laws, regulations and standards, diverse political, legal, economic and other conditions affecting Galderma's markets, and other factors beyond the control of Galderma). Neither Galderma nor any of their respective shareholders (as applicable), directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak of the date of this announcement. Statements contained in this announcement regarding past trends or events should not be taken as a representation that such trends or events will continue in the future. Some of the information presented herein is based on statements by third parties, and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, reasonableness, accuracy, completeness or correctness of this information or any other information or opinions contained herein, for any purpose whatsoever. Except as required by applicable law, Galderma has no intention or obligation to update, keep updated or revise this announcement or any parts thereof. View source version on Contacts For further information: Christian Marcoux, Communications +41 76 315 26 50 Richard HarbinsonCorporate Communications +41 76 210 60 62 Emil IvanovHead of Strategy, Investor Relations, and +41 21 642 78 12 Jessica CohenInvestor Relations and Strategy +41 21 642 76 43
