Touax announces the success of a bond issue

Press Release                                                                                                                                      Paris, 31 stJuly 2018 18:00YOUR OPERATIONAL LEASING SOLUTION Touax announces the success of a bond issue16.6 million euros due 2023 ...

London, 31/07/2018 (informazione.news - comunicati stampa - trasporti)

Press Release                                                                                                                                      Paris, 31 July 2018 18:00

On 31 July 2018, Touax SCA completed a senior unsecured bond issue on Euro PP format with a par value of 16.6 million euros and a maturity date of 31 July 2023 (the "Bonds").

The Bonds bear interest at a nominal annual rate of 5.75%, payable annually in arrears.

The issue of the Bonds is intended to extend the average maturity of the Group's debt. The net proceeds of the issue will thus be partly used to refinance the bonds maturing on October 2, 2018, bearing an interest rate of 6.25%; the balance being allocated to the general needs of the Group.

This transaction reflects the Group's desire to achieve both asset financing (for example, on May 31, 2018, € 110m in asset financing - see press release of June 4, 2018) and financing at the level of the Touax SCA holding company with a view to diversification and optimization.

This issue of bonds reduces the average cost of the Group's corporate debt and thus demonstrates the improvement in the quality of the Group's credit following the disposal at the end of 2017 of European and US modular construction activities.

The Bonds have been admitted to trading on the Euronext Access® market.

Octo Finances, Lead Partner of this bond issue was advised by CMS Francis Lefebvre Avocats, De Pardieu Brocas Maffei advised TOUAX SCA.

Raphaël and Fabrice Walewski, Group Managing Partners.

2018 half-yearly results will be published on September 13, 2018 with a commentary on the activities.

Contacts:

TOUAX                                                                                                                                      ACTIFIN
Fabrice & Raphaël WALEWSKI                                                                                            Ghislaine GASPARETTO
Managing Partners                                                                                                                 ggasparetto@actifin.fr
touax@touax.com                                                                                                                  
www.touax.com                                                                                                                       Tel: +33 (0)1 56 88 11 11
Tel: +33 (0)1 46 96 18 00