Lyon, November 8, 2023 – 6:30 p.m.
OL Groupe is pleased to announce that a preliminary agreement has been reached with a group of leading global financial institutions, for a refinancing of the vast majority of its debt and that of its subsidiary Olympique Lyonnais SASU, for a total amount of €320 million, in the long term.
This is a decisive step in the implementation of the upcoming refinancing which will allow OL Groupe and its subsidiary Olympique Lyonnais SASU to repay the balance of the long-term “stadium” debt, the PGE loans contracted during the COVID years and other debts taken out with private parties (including Holnest). In addition, this new financing is expected to be more flexible for the Group in various respects, including by eliminating substantial restrictive covenants contained in existing financing agreements under which certain decisions of the Group were subject to the prior approval of creditors.
The KBRA Europe and DBRS Morningstar agencies have respectively assigned an indicative financial rating of BBB+ and BBB to the planned structure.
OL Groupe is advised in the context of the refinancing by Goldman Sachs. The closing of the new financing should take place by December 31, 2023, subject to agreement on the definitive documentation and the satisfaction of various customary conditions.
“We are extremely pleased with the leadership of Goldman Sachs as advisor in this refinancing, which brings together a number of leading institutions to support OL Groupe’s business plan,”
said
John Textor, Chairman and CEO of OL Groupe
. “The confirmation of the main credit rating agencies and the quality of our new investors demonstrate the strength of the OL brand, the improvement of the group’s financial situation and the solidity of its business plan for the future . »
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Such : +33 4 81 07 55 00 Fax: +33 4 81 07 45 65 E-mail : www.ol.fr | Euronext Paris – compartment C |
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