OL GROUPE : NEW SYNDICATED OPERATING LINE OF CREDIT SIGNED
Lyon, 27 June 2014
OL Groupe has signed a new syndicated operating line of credit totalling €34 million and maturing on 30 September 2017. This new line replaces the previous one, which initially totalled €57 million and was reduced to €40 million in September 2013. It will enable Olympique Lyonnais SAS to secure its medium-term financing needs and give it the flexibility necessary to continue its activities.
This agreement, which demonstrates the trust our banking partners place in us, has been entered into with Crédit Lyonnais as the coordinator, Lyonnaise de Banque as the co-coordinator, and Crédit Lyonnais, Groupe Crédit Mutuel-CIC (represented by Banque Européenne du Crédit Mutuel and Lyonnaise de Banque) as arrangers. The banking pool consists of the following 10 highly reputed financial institutions: Crédit Lyonnais, Lyonnaise de Banque, Banque Européenne du Crédit Mutuel, BNP Paribas, Banque Populaire Loire et Lyonnais, Caisse d'Epargne Rhône-Alpes, HSBC France, Natixis, Société Générale and Groupama Banque.
In response to a request from OL Groupe and its lenders, ICMI and Pathé, in their capacity as the principal holders of OCEANE convertible bonds issued by OL Groupe and accompanied by a prospectus (note d'opération) approved by the AMF on 9 December 2010 under no. 10-432 ("OCEANE 2010"), have committed to refinancing their OCEANE 2010 bonds (due to mature on 28 December 2015) subject to certain conditions, so that the amounts owed to them are not paid until 31 December 2017. Under the new syndicated credit agreement, OL Groupe has committed to putting this refinancing arrangement in place, providing certain conditions are met. The terms of the arrangement will be approved and enacted by 15 September 2015.
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