gategroup announces launch of syndication for new term loan financing

Core Viewpoint - gategroup is launching a syndication for new senior secured term loan Bs and plans to enter a new revolving credit facility of approximately CHF 300 million to refinance existing loans and support corporate purposes [1][2]. Financing Details - The proceeds from the new financing will be used to refinance existing loans, including EUR 250 million term loan A and EUR 415 million revolving credit facility, as well as to pay accrued interest, transaction fees, and for general corporate purposes [2]. - gategroup anticipates an upgrade in its corporate credit rating as a result of the new financing [2]. Current Trading Performance - In Q1 2025, gategroup reported revenues of CHF 1,245 million, representing a 9% increase compared to Q1 2024, and an EBITDA of CHF 66 million, which is an 89% increase year-over-year [4]. - The EBITDA margin improved to 5.3%, reflecting a 222 basis points increase from Q1 2024 [4]. - On a Last Twelve Months (LTM) basis for Q1 2025, reported EBITDA rose to CHF 422 million, compared to CHF 391 million for FY 2024 [4]. - All regions exceeded their Q1 2024 results, indicating strong regional performance [4]. Company Overview - gategroup is a global leader in airline catering, retail-on-board, and hospitality products and services, headquartered in Zurich, Switzerland [5]. - The company operates over 200 units in more than 60 countries, providing superior culinary and retail experiences through innovation and advanced technology [5].