AmRest Holdings has signed a €800m financing agreement with a consortium of eight banks, the company said. Of this, €560m will be used to repay existing debt and the rest will be used for capex, financing general corporate objectives and organic growth of the company and its group, as well as financing the group’s working capital.
Lenders:
o Banco Bilbao Vizcaya Argentaria,
o BNP Paribas Bank Polska,
o Bank Polska Kasa Opieki,
o Česká Spořitelna,
o Coöperatieve Rabobank,
o ING Bank Śląski
o Powszechna Kasa Oszczędności Bank Polski,
o Banco Santander, and Santander Bank Polska
– Tranches and their purpose:
o Tranche A: for an amount of 560,000,000 euros – to repay existing debt,
o Tranche B: for an amount of EUR 110,000,000 – for capex, financing of general corporate objectives and organic growth of the company and its group, and
o Tranche C: a revolving line of €130,000,000 – to finance the group’s working capital
The repayment calendar does not provide for any mandatory prepayments during the first two years of the loan period. The quarterly repayment calendar starts on 31 December 2025 and the final maturity date is December 2028.
Cost of debt: Euribor + 2.5%, which will be reduced or increased depending on the group’s leverage ratio, the company stated.
AmRest is one of the leading publicly listed restaurant operators in Europe, with a portfolio of recognisable brands in 25 countries. AmRest operates restaurants under franchise brands such as KFC, Starbucks, Pizza Hut and Burger King, as well as under private labels such as La Tagliatella, Sushi Shop, Bacoa and Blue Frog. The company has been listed on the WSE since 2005; it is part of the mWIG40 index.
Source: AmRest and ISBnews
