Cegedim Secures €230 Million Financing Arrangement

Cegedim has secured a new €230 million syndicated loan to refinance existing debt and bolster liquidity. The financing consists of a €180 million loan to refinance maturing debt and a €50 million revolving credit facility.

The arrangement is structured into three tranches: a €30 million Tranche A repayable over five years, a €60 million Tranche B repayable over six years, and a €90 million Tranche C repayable over seven years. Additionally, the financing includes a €50 million revolving credit facility with a five-year term and an optional one-year extension.

Standard commitment and default clauses apply, with financial covenants requiring a leverage ratio of less than 2.50 and an interest cover ratio greater than 4.50. Shares in key subsidiaries have been pledged as collateral.

Advisors for the financing included ODDO BHF for financial aspects and Norton Rose Fulbright for legal matters.