GATEGROUP CLOSES CHF 1.4B REFINANCING TO STRENGTHEN FINANCIAL POSITION AND SUPPORT LONG-TERM STRATEGY

Core Viewpoint - gategroup Holding AG has successfully completed a comprehensive refinancing package to enhance financial flexibility and support ongoing transformation and growth [1][4] Financing Details - The refinancing package includes a EUR 675 million term loan, a USD 500 million term loan, and a CHF 300 million multicurrency revolving credit facility [1] - This marks gategroup's debut as a Term Loan B (TLB) issuer, priced at the tighter end of the original guidance, indicating strong demand from top-tier global institutional investors [2] Use of Proceeds - Proceeds from the refinancing will be utilized to repay existing debts, including a EUR 250 million term loan A and a CHF 415 million revolving credit facility, along with other loans and accrued interest [3] - The transaction also provides additional liquidity for general corporate purposes [3] Strategic Implications - The successful refinancing is viewed as a key milestone, reflecting strong market confidence and creating a solid capital structure for long-term strategic ambitions [4] - The refinancing will lead to ratings upgrades by Moody's and S&P Global, with new corporate ratings of B2 and B+ respectively [4] Company Overview - gategroup is a global leader in airline catering, retail-on-board, and hospitality products and services, operating over 200 units in more than 60 countries [5]