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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
Yahoo
15-05-2025
- Business
- Yahoo
gategroup announces launch of syndication for new term loan financing
Ad hoc announcement pursuant to Art. 53 of the SIX Swiss Exchange Listing Rules gategroup announces launch of syndication for new term loan financing May 15, 2025 gategroup Holding AG and its subsidiaries (together "gategroup") is announcing that it is launching a syndication in the institutional loan market of proposed new senior secured term loan Bs. In connection with the financing, gategroup also expects to enter into a new revolving credit facility in an amount of approx. CHF 300 million (equivalent) (together with the term loan B, the 'New Financing'). 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. There can be no assurances that the New Financing will be entered into. Closing of the New Financing is subject to market conditions, as well as the negotiation and execution of definitive documents and the satisfaction of customary closing conditions. In terms of current trading, the strong trading in Q4 2024 has continued in Q1 2025 with revenues of CHF 1,245million, +9% vs. Q1 2024, EBITDA of CHF 66million, +89% vs. Q1 2024 and an EBITDA margin of 5.3%, a +222bps improvement vs. Q1 2024. On a LTM Q1 2025 basis, reported EBITDA increased to CHF 422m, which compares to CHF 391m EBITDA for FY 2024. In terms of regional performance, all regions exceeded Q1 2024 results. Media and investor inquiries IR@ 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
