ICAPE Group Announces the Completion of €47 Million Financing Package, Including €41 Million Senior Debt and €6 Million Recovery Bond
December 20 2023 - 11:00AM
Business Wire
Regulatory News:
ICAPE Group (ISIN code: FR001400A3Q3 - Ticker: ALICA), a global
technology distributor of printed circuit boards ("PCB"), today
announced the successful completion of a financing package with a
pool of nine European banks, as well as the issuance of Recovery
Bonds.
Arnaud Le Coguic, Chief Financial Officer of ICAPE Group,
stated: "I would like to thank all our banking partners for their
confidence in our project. The successful implementation of this
financing in an adverse economic environment underlines both the
financial strength and the value proposition of our Group. The
additional resources granted will enable us to reinforce our
dynamic of aggressive external growth in the short and medium term,
in line with our strategy.”
The financing operation consists of a Refinancing Loan for a
total amount of €21 million (including three tranches of
respectively €15.3 million to be amortized, €2.7 million in fine
and €3.0 million in fine) and a €40 million external growth credit
facility, of which €20 million are confirmed (including two
tranches of respectively €17.0 million to be amortized, €3.0
million in fine).
TP ICAP Midcap was the exclusive financial advisor to ICAPE
Group and Caisse Régionale de Crédit Agricole Mutuel de Paris et
d’Ile-de-France acted as coordinator of the transaction and credit
agent. Banque Palatine, Banque Populaire Rives de Paris and HSBC
Continental Europe were mandated arrangers. The banking pool is
composed of 9 lenders: Banque Palatine, Banque Populaire Rives de
Paris, BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel de
Paris et d’Ile-de-France, Crédit Industriel et Commercial, Crédit
Lyonnais, HSBC Continental Europe, Landesbank Saar and Tikehau
Capital.
Peltier Juvigny Marpeau & Associés advised ICAPE Group on
debt and bond issues, and Mermoz Avocats advised the banking
pool.
€6 million of Recovery Bonds were subscribed by the Obligations
Relance France fund (an investment fund managed by Tikehau Capital)
and by the Obligations Relance France – Tikehau Capital fund.
De Gaulle Fleurance acted as advisor to Tikehau Capital.
About the French Recovery Bond Fund
The French Recovery Bond fund, endowed with €1.7 billion,
subscribed by 19 insurers members of the Fédération Française de
l'Assurance (FFA) and by Caisse des Dépôts, finances SMEs affected
by the health crisis, which invest in their development and
transformation. Part of the Recovery Plan of the Ministry of the
Economy, Finance and Recovery, the French Recovery Bond fund was
created by the insurers and Caisse des Dépôts, in cooperation with
the French Treasury. It benefits from a partial guarantee from the
State.
The Recovery Bonds have a term of eight years; they are
redeemable at maturity; they offer SMEs-ETIs unsecured subordinated
financing which can be obtained from the asset management companies
delegated to manage the fund.
About ICAPE Group
Founded in 1999, ICAPE Group acts as a key technological expert
in the PCB supply chain. With a global network of 36 subsidiaries
and a major presence in China, where most of the world’s PCB
production is done, the Group is a one-stop-shop provider for the
products and services which are essentials for customers. As of
December 31, 2022, ICAPE Group recorded a consolidated revenue of
nearly €220 million.
For more information: icape-group.com
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version on businesswire.com: https://www.businesswire.com/news/home/20231220107054/en/
ICAPE Group CFO Arnaud Le Coguic Tel: +33 1 58 18
39 10 investor@icape.fr
Investor Relations NewCap Nicolas Fossiez
Louis-Victor Delouvrier Tel: +33 1 44 71 94 98 icape@newcap.eu
Media relations NewCap Arthur Rouillé Antoine
Pacquier Tel: +33 01 44 71 94 94 icape@newcap.eu
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