Gascogne has signed a syndicated loan contract worth Euro 110 million, to refinance its current debt and to finance its Capital Expenditure programme for the 2018-2020 period, as the company said in the press release received by Lesprom Network.
This Euro 110 million loan is to be paid back over 5 years and is broken down into 3 parts:
- A Euro 50 million loan earmarked for the refinancing of current bank debt, which in turn has allowed the arrival of new financial partners.
- A Euro 50 million capital investment loan, to be channelled into investments planned for the 2018-2020 period .
- A Euro 10 million revolving loan to provide working capital.
This loan is subject to guarantees and customary clauses such as compliance with financial ratios from 30 June 2018 onwards. This operation will enable Gascogne to pursue its investment programme designed to reinforce its industrial infrastructure: building on an initial investment of Euro 100 million over the 2014-2017 period, Gascogne is set to invest a further Euro 100 million over the 2018-2020 period (half of which will be financed by the new capital investment loan, and half through self-financing generated by the Group's companies), bringing the total amount of capital expenditure to Euro 200 million over 7 years. This agreement was drawn up with Société Générale Corporate & Investment Banking and Crédit Agricole Corporate & Investment Banking acting as arrangers.
The Gascogne Group is the leading player in the French wood industry, operating at every stage of forest resource processing.
