Avolta AG Successfully Completes Refinancing, Enhancing Financial Structure

Avolta AG, a leading global travel experience company, has reported the successful conclusion of its refinancing efforts. This initiative has led to an increase in the company's financial agility by prolonging the average debt maturity.

The company placed EUR 500 million in Senior Notes due in 2031 and executed a cash tender offer for the outstanding EUR 800 million Senior Notes scheduled for 2024. The offer attracted bids for 50.9% of the aggregate principal amount, or EUR 407.0 million. The financing for this was achieved through the issuance of the new notes. The remaining Senior Notes will be repaid in cash upon maturity.

This transaction leaves Avolta with a well-balanced debt profile that does not require significant attention until 2026 and maintains a mix of fixed and floating rate debts at 81% and 19% respectively, with an average interest rate of 4.25%. Avolta now holds over CHF 2.3 billion in liquidity, providing substantial scope for future financial maneuvers.

Yves Gerster, CFO of Avolta, expressed satisfaction with the refinancing outcome, noting its role in enhancing the company’s debt maturity profile and financial flexibility, as well as confirming investor confidence in the company’s continued growth.