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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Coface    COFA   FR0010667147

COFACE (COFA)
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COFACE : announces €300m syndicated loan agreement for its Polish subsidiary Coface Poland Factoring

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06/14/2018 | 05:48pm CEST

As part of the refinancing of its factoring activity, Coface Poland Factoring signed an agreement with a group of banking partners for a €300m syndicated multicurrency loan (EUR, PLN) on 8 June 2018. This syndicated loan partly replaces existing bilateral credit lines.

The Group's Polish subsidiary is supported by seven banking partners: Crédit Agricole CIB, HSBC, ING Bank Ślaski and Natixis, acting as Mandated Lead Arrangers and Bookrunners, Banco Santander, Commerzbank and Société Générale CIB, acting as Mandated Lead Arrangers. Natixis is acting as Documentation Agent and Crédit Agricole CIB as Facility Agent.

The loan is put in place for two years, with an option to extend its duration by one year, exercisable once, subject to the banks' agreement.

This operation enables the Group to increase its financial flexibility and to extend the maturity of its refinancing debt, whilst benefiting from current favorable market conditions and strengthening its relationships with its leading banks, who thus confirm their commitment to Coface over the mid-term.

Carine Pichon, Chief Financial & Risk Officer, commented:

« We are pleased to implement a syndicated loan agreement for our Polish subsidiary, which allow us to support its profitable growth. By simplifying its structure and prolonging the average maturity of our debt, this loan agreement is fully aligned with the financial objectives of our strategic plan, Fit to Win. »

Disclaimer

Coface SA published this content on 14 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 June 2018 15:47:03 UTC

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Financials (€)
Sales 2018 1 312 M
EBIT 2018 180 M
Net income 2018 114 M
Debt 2018 -
Yield 2018 6,12%
P/E ratio 2018 10,74
P/E ratio 2019 10,03
Capi. / Sales 2018 0,95x
Capi. / Sales 2019 0,92x
Capitalization 1 245 M
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Number of Analysts 5
Average target price 9,60 €
Spread / Average Target 21%
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Managers
NameTitle
Xavier Pascal Durand Chief Executive Officer
François Riahi Chairman
Carine Pichon Chief Financial & Risk Officer
Valerie Brami Director-Business Technology
Jean Arondel Non-Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
COFACE-11.15%1 424
MUENCHENER RUECKVERSICHERUNG1.99%31 529
SWISS RE-4.96%29 465
HANNOVER RÜCKVERSICHERUNG8.58%15 710
REINSURANCE GROUP OF AMERICA INC-8.01%9 131
EVEREST RE GROUP-1.29%8 950