-Le syndicat bancaire dirigé par Lloyds TSB Bank PLC a augmenté de 40 millions d'euros le montant du crédit syndiqué de Service Point pour atteindre un total de 100 millions d'euros et a allongé l'échéance du crédit
-Confiance des marchés financiers dans le projet de SPS suite aux bons résultats
-Le nouveau financement porte à 80 millions d'euros le montant total des moyens disponibles pour financer le plan de croissance organique et d'achat et donne ainsi plus de flexibilité opérationnelle à la société
Barcelone, le 25 septembre 2007- Service Point Solutions, S.A (SPS.MC) a signé avec le syndicat bancaire dirigé par Lloyds TSB Bank PLC une augmentation de prêt d'un montant de 40 millions d'euros pour atteindre maintenant 100 millions d'euros. L'échéance a été allongée de 1 an pour atteindre 5 années (2011) avec la possibilité de l'allonger pour une année supplémentaire (2012)
This agreement underscores the financial community's confidence in the company's strategy and its ability to execute this strategy. As a testament to this confidence, the new agreement includes syndicate members such as Lloyds TSB Bank PLC and GE Finance (General Electric).
Market confidence in Service Point Solutions is underpinned by:
(i) Strong earnings momentum since 2005. In 1H07, revenues were up 82 yoy. At €4.5mn, first half net profit was equivalent to profit for all of 2006,
(ii) Balance sheet strength, reinforced by the €54.3mn capital increase (oversubscribed by 57.1%) undertaken in February 2007, and
(iii) The positive outlook for the sector and Service Point over the short and medium term.
The additional funds will be used to fund the company's organic and M&A-led growth. The loan extension brings the company's available resources to €80mn. In addition, the loan structure and longer maturity enhances Service Point's operating flexibility as it entails a simplification of the covenants imposed on the company.
According to Rafael López-Aparicio, CEO of SPS, "This additional €40mn loan grant is a further demonstration of the confidence placed by the lending community in a business model such as Service Point's, characterised by recurring revenues and balance sheet strength, and in the company spearheading the consolidation of this growth sector, all the more against the backdrop of the current credit crunch".
Service Point Solutions (www.servicepoint.net) provides digital reprographics and document management services to the AEC (architects, engineers and construction), manufacturing, public and services sectors. It employs over 2,500 people across 6 countries (the UK, US, Spain, Germany, Holland and Norway) via a network of 112 service points worldwide and 714 facilities management and OSS (onsite services) programs. SPS is headquartered in Spain and listed on the Spanish stock exchanges.
For more information: |
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Service Point Solutions S.A. |
Cori Pellicer |
[email protected] |
Tel +34 93 5082400 |
Fax +34 93 5082442 |