Banijay Completes Refinancing Drive to Increase $2.5 Billion For Endemol Shine Group
France-based Banijay Group has accomplished its refinancing drive to lift €2.three billion ($2.5 billion) for the acquisition of Endemol Shine Group. Banijay Group introduced its $2.2 billion deal for Endemol Shine again in October.
The pact, which is anticipated to obtain anti-trust approval this summer time, would make the merged entity the largest non-U.S. participant out there, with an even bigger catalogue than the primary U.Ok. gamers, BBC Studios and ITV Studios.
“Following optimistic suggestions from the investor neighborhood, the enterprise was oversubscribed and raised the total funding throughout Euros and U.S. {Dollars} with a maturity of 5 years; the required funds to re-finance the group’s current debt, in addition to that of ESG,” mentioned Banijay Group in a launch.
The corporate listed the small print of the financing, together with €575 million senior secured notes due 2025; $403 million senior secured notes due 2025; €400 million senior notes due 2026; €453 million time period mortgage B facility; $460 million time period mortgage B facility; and €170 million (equal) multicurrency Revolving Credit score Facility.
When saying the deal, Banijay mentioned it might be financed by means of a capital enhance at Banijay Group and debt financing, together with a full refinancing of Banijay and Endemol Shine’s current debt, supported by Deutsche Financial institution, Natixis and Société Générale. As of Dec. 2018, Banijay’s and Endemol Shine’s respective debt was roughly $486 million and $1.83 billion.
COPYRIGHT_BP: Published on https://bingepost.com/banijay-completes-refinancing-drive-to-raise-2-5-billion-for-endemol-shine-group/23912/ by Cecilia Jones on 2020-02-10T10:30:14.000Z
The mixed group will likely be held by LDH (67.1%) ,which contains Financière LOV, De Agostini and Fimalac, the funding firm of Marc Ladreit de Lacharrière, and French media big Vivendi (32.9%).
Collectively, Banijay and Endemol Shine have pursuits in additional than 100 manufacturing corporations, together with Kudos, Santorini Brooker’s Home of Tomorrow, and Wiedeman and Berg Tv on the Endemol Shine facet. Flagship Banijay titles embody “Versailles,” “The Inbetweeners,” “Spouse Swap,” whereas Endemol has “Large Brother,” “MasterChef,” “Black Mirror” and “Peaky Blinders.”
