Milan, 3 December 2021 – Autogrill S.p.A. announces that it has completed today the refinancing of the Autogrill Group overall indebtedness through:
- the closing of the already announced financing for a total maximum principal amount of one billion euros, for which Autogrill S.p.A. signed an agreement with a pool of primary banks on 28 October 2021, which also the subsidiary HMSHost Corporation entered into on 22 November 2021, and
- the simultaneous early repayment through the full reimbursement (i) of the bilateral financing contracts and of the financing contract backed by SACE guarantee in place for Autogrill S.p.A. and (ii) the bank loan and the two bonds in place for the subsidiary HMSHost Corporation(1).
The refinancing allows the Group to extend to 4.5 years the average maturity of its debt as of 31 December 2021, to optimize its bank indebtedness by reducing the related annual financial charges and to centralize the Group treasury in the parent company, in line with the best practices of similar multinational organizations.
The completion of the abovementioned transaction removes a series of constrains and limitations to the Group’s operations included in the financing contracts negotiated to face the impacts of the COVID-19 pandemic.
(1) For detailed information on the related bank loans and bonds please see the Prospectus published on 10 June 2021 and available on the company’s website (http://www.autogrill.com, Governance section/ Capital increase 2021)