RUBIS: Rubis Énergie sets up inaugural syndicated loan of €1.1 billion

Core Points - Rubis Énergie SAS has established an inaugural syndicated loan totaling €1.1 billion for refinancing part of its existing debt and supporting the Group's activities [1] - The loan was significantly oversubscribed and involved a leading international banking pool with 11 institutions from 8 banking groups [1][2] - The financial terms include a competitive initial margin adjustable based on the Group's financial leverage ratio, with covenant commitments similar to existing lines [2] Financial Structure - The syndicated loan consists of an amortizing loan of €250 million (Facility A), a non-amortizing loan of €350 million (Facility B), and a revolving credit facility of €500 million, all with a 5-year maturity [5] - An additional "accordion" uncommitted line of up to €300 million is available for acquisitions and investments [5][6] - The transaction simplifies the balance sheet by replacing multiple bilateral lines with a main financing line, extending the average maturity of bank debt at a cost comparable to existing financing [6] Strategic Objectives - The transaction strengthens Rubis Énergie's financing structure, allowing the company to pursue its development plan in an agile and secure manner [3] - The company capitalizes on favorable market conditions for investment-grade issuers and its strong financial and operational performance [3] - Increased flexibility is achieved through a new simplified structure, allowing for future drawdowns and the activation of the accordion line [6] Company Overview - Rubis is an independent French group with over 30 years in the energy sector, focusing on providing reliable and sustainable energy [5][7] - The Group operates in three regions: Africa, the Caribbean, and Europe, with around 4,500 employees [7] - Rubis is committed to diversifying its business towards less carbon-intensive solutions, recognizing the energy sector's role in combating climate change [7]