(Boursier.com) — Company of the Alps camped on 14.75 euros this Friday, while the group concluded, on June 23, a new syndicated revolving credit contract for a maximum amount of 300 million euros. This RCF (Revolving Credit Facility) line replaces the existing line concluded on May 7, 2014 and modified by amendments in 2017 and 2019 for an amount of €250 million and which expired on May 6, 2023.
This new credit agreement, entered into with BNP Paribas, Groupe BPCE, Crédit Agricole Group, CM-CIC Group, Société Générale and La Banque Postale, has a maturity of 5 years, plus two extension options of one year each at hand of the lenders (5+1+1 format).
In line with the commitments made by the group in terms of social and environmental responsibility, in particular the objective of achieving 0 net carbon by 2030, two CSR performance indicators are integrated into this RCF line: CO2 emissions and safety at work. The contract already includes the CSR framework relating to these 2 indicators, negotiated with the banking pool (definitions and calculation methodologies, scopes, rationale for the choice of indicators, historical performance, means implemented, publication commitments, etc. .). The annual reduction trajectories for these 2 indicators will be defined in January 2023.
As the revolving credit agreement is a regulated agreement, it was approved by the Board of Directors of Compagnie des Alpes SA, the directors concerned not taking part in the vote… Portzamparc underlines the consolidated liquidity position for the group, which There is currently no significant debt repayment deadline before 2024 (Euro PP 2014 100 ME; PGE Saison 130 ME). Verdict: “Buy aiming for a course of 19.5 euros”.
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