22nd Sep 2022 09:26
WAG Payment Solutions PLC - Also known as Eurowag, processes toll and fuel payments for trucks around Europe - Signs an agreement to refinance and expand existing credit facilities. Says the agreement secured on "favourable terms" which strengthen its debt package, extend maturities for all facilities and expands the club of financing banks.
The agreement, which has a total value of EUR715 million, consists of four tranches. EUR150 million is committed for the refinancing of existing loan indebtedness and EUR180 million is committed for acquisitions and capital expenditure. A further EUR235 million is committed as a revolving credit facility and the remaining EUR150 million is uncommitted incremental facility for acquisitions and capital expenditure. The new maturity date for all term loan facilities and for the revolving credit facility will be September 30, 2027.
Chief Financial Officer Magdalena Bartos said: "Maintaining capital discipline while pursuing strategic growth opportunities is a key priority for Eurowag. This refinancing gives us the scope and financial flexibility to deliver our growth strategy while retaining a strong balance sheet, and also optimises our capital structure and liquidity position."
Current stock price: 94.00 pence
12-month change: down 30%
By Chris Dorrell; [email protected]
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