International event organiser and venue operator GL events has announced the early refinancing of its €150m revolving credit facility (RCF) and has also secured a new €70m credit line.
Olivier Ginon (pictured), chairman-CEO of GL events Group, commented: “GL events welcomes the conclusion of this refinancing agreement which extends the maturity of its financial debt and reflects our strategy of further reducing our gross debt at the end of 2023 and supporting the Group’s development. It is also a testimony to our banking partners’ continuing confidence in our business model and I sincerely thank them for their unwavering support over the years.”
GL events has now successfully completed the refinancing of its bank debt. This has included securing a new term loan in the amount of €70m, repayable over a period of five years. In addition, GL events refinanced in advance a €150m revolving credit facility (RCF) with a five-year maturity and an optional two-year extension at the company's initiative.
The transactions were co-arranged by CIC Lyonnaise de Banque (Bookrunner, Coordinator and Agent) and Crédit Agricole Centre Est. For this transaction, GL events was advised by Delsol Avocats
The Group holds its Annual General Meeting –27 April 2023 and its H1 2023 revenue and results are due 20 July 2023.