Paris, France, March 9, 2017. Albéa Beauty Holdings S.A. (together with its subsidiaries and affiliates, “Albéa”) announced today that it has mandated BNP Paribas S.A. and Goldman Sachs International as Joint Global Coordinators and, together with Credit Agricole Corporate and Investment Bank and HSBC Bank plc, Mandated Lead Arrangers and Joint Bookrunners to arrange US$921.0 million senior secured credit facilities (the “Facilities”) comprising (i) a US$816.0 million 7-year covenant-lite term loan B facility which shall be split between US$ and € tranches and (ii) a US$105.0 million 6-year revolving credit facility (the “Financing”).
The proceeds from the Financing are intended to refinance the outstanding US$ denominated 8.75% bonds due 2019 and € denominated 8.375% bonds due 2019 issued by Albéa (the “Bonds”). We believe this debt refinancing will help improve our cash flow and gives us additional liquidity to operate our business, while increasing our flexibility to address strategic actions that will allow Albéa to grow in the future. In addition it will also be used to refinance certain other amounts due under the Bonds, to make a dividend, redemption or return of capital to its shareholders, to repay certain other existing indebtedness of Albéa and to fund transaction expenses. We expect closing of the Financing to occur by the end of April.
Albéa is one of the world’s leading packaging companies providing a wide range of solutions for the make-up, fragrance, skincare, personal and oral care markets. Headquartered in France, Albéa operates 38 manufacturing facilities in 15 different countries across Europe, the Americas and Asia.
Vice-President Communications, Albéa Group
Tel: +33(0)1 81 93 19 27
The information contained in this release may contain forward-looking statements, estimates and projections. These statements involve elements of subjective judgment and analysis and are based upon the best judgment of Albéa as of the date hereof. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties, as there are a variety of factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Therefore, you should not rely on these forward-looking statements. Neither Albéa nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this release or to update or keep current any of the information contained herein and this release is not a representation by Albéa or any other person that they will do so, except to the extent required by law.
This announcement contains inside information as stipulated under the Market Abuse Regulation (EU No. 596/2014).