Completion of a new senior loan (CAPEX loan) for up to €70m
Issuing of €10m in Relance bonds
Refinancing of the existing senior bank debt with the issuance of a new €15m tranche and the implementation of a €20m banking envelope to refinance the Euro PP bond loan
Integration of ESG criteria in all new sources of financing
Lyon, 13 October 2022 - 6:00 pm. Visiativ, a digital transformation and innovation expert for small and medium-sized businesses, is listed on Euronext Growth in Paris (FR0004029478, ALVIV).
Visiativ announces the signing of new financing agreements with its historical banking pool to refinance and extend the maturity of its debt, and to underpin the next stages of its development by providing itself with new financial capacity to seize external growth opportunities.
Ahead of its next strategic plan, due to be announced in the first half of 2023, Visiativ has strengthened its financial resources by signing a new senior loan for a total €70m, €50m of which in confirmed credit lines with maturities ranging from 6 to 7.5 years (€18m amortizable until 2028 and €32m repayable upon maturity in 2029).
This senior loan is completed by a €10m issue of Relance bonds, with a maturity of 8 years and repayable in fine at maturity. Issued in the scope of the French government's France Relance plan, Relance bonds are intended to reinforce the balance sheets of French SMEs and mid-sized companies. Thanks to the French State's guarantee, companies get to benefit from advantageous financing conditions compared to similar market financing sources.
Visiativ has also entered into an agreement to refinance the entire balance of its current senior debt,
i.e. €15m, through the issue of new tranches maturing in 6 and 7 years (€6.75m amortizable until 2028 and €8.25m repayable upon maturity in 2029). Meanwhile, the company has also obtained a €20 million credit line for the repayment of the Euro PP bond issued in 2018 and due to mature in May 2025.
As part of its corporate social responsibility (CSR) approach, Visiativ, in agreement with its banking partners, has decided to associate these new financing packages with its ESG (Environmental, Social and Governance) performance. In so doing, it will benefit from a bonus of up to 10 basis points on the margin applicable to all of these new financing lines, depending on whether or not the targets set are met.
Visiativ has identified the following four areas of progress in terms of its CSR, and has set annual targets for each:
- Reduce its environmental footprint through the reduction of carbon emissions across scopes 1, 2 and 3;
- Work towards gender equality by increasing the number of women in the total workforce;
- Promote the inclusion of people with disabilities by increasing the number of employees with disabilities;
- Develop the talents of tomorrow by increasing the share of apprenticeship in the workforce.
At the same time, Visiativ is committed to an emissions reduction trajectory aligned with the Net-Zero Standard of the Science Based Targets initiative (SBTi), under which companies can define a reduction trajectory consistent with limiting global warming to 1.5°C (the objective of the Paris Agreement). Through this commitment, Visiativ will submit its short- and medium-term greenhouse gas emission reduction targets to SBTi for approval.
Laurent Fiard, Chairman and CEO of Visiativ, comments:
"Through these operations, Visiativ will be able to strengthen its balance sheet structure and financial clout, while significantly extending the average maturity of its debt. This new round of financing will support the next stages of Visiativ's development, including the implementation of the next strategic plan, which will be presented in the first half of 2023, and which is focused on the Group's international development through organic growth and acquisitions.
In this respect, we are proud to have incorporated CSR criteria in these new financing lines; we are grateful to our banking partners for being part of this initiative. By monitoring these ESG criteria in the scope of our financial debt, we ensure transparency on our societal and environmental commitments in line with the objectives set by the COP 21."
FINANCIAL AGENDA
| EVENTS | DATES |
|---|---|
| Q3 2022 revenue | Wednesday 19 October, 2022 |
| Full-year 2022 revenue | Wednesday 25 January, 2023 |
| Full-year 2022 results | Tuesday 21 March, 2023 |
These dates are an indication and may be changed if necessary. All publications will be issued after close of trading on Euronext Paris.
ABOUT VISIATIV
Visiativ's mission is to make digital transformation a performance lever for companies. We do this by co-building alongside our customers, over the long term. We call this our promise: "Sharing, is growing".
We support our customers by providing solutions and services to plan, implement, manage and monitor transformations with a unique and innovative approach through three pillars: Consult (consulting & support), Engage (solutions & deployment) and Connect (communities for exchange and sharing). With over 35 years of proven experience working with more than 21,000 Small & Mid-Market customers, Visiativ has achieved revenues of €214 million in 2021. Visiativ is present in 13 countries (Belgium, Brazil, Canada, France, Germany, Luxembourg, Morocco, the Netherlands, Poland, the United Kingdom, U.A.E, USA and Switzerland) and has more than 1,100 employees.
Visiativ (ISIN code FR0004029478, ALVIV) is listed on Euronext Growth in Paris. The share is eligible for PEA and PEA-PME.
For further information visit www.visiativ.com
| VISIATIV CONTACT Lydia JOUVAL External Communication Tel.: +33 (0)4 78 87 29 29 lydia.jouval@visiativ.com | INVESTOR CONTACT ACTUS Mathieu OMNES Tel.: +33 (0)1 53 67 36 92 momnes@actus.fr | PRESS CONTACT ACTUS Serena BONI Tel.: +33 (0)4 72 18 04 92 sboni@actus.fr |
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