In In January 2020, Signify announced that it has signed new committed financing facilities to replace its current term loans of EUR 740 million and USD 500 million, and its existing revolving credit facility of EUR 500 million which were due to expire in May 2021.

 

The new committed term loan structure consisted of EUR 400 million and USD 275 million with a maturity of three years (January 2023) and EUR 340 million and USD 225 million with a maturity of five years (January 2025). We entered into a new committed EUR 500 million multi-currency revolving credit facility (RCF) which has a maturity of five years (January 2025), with the option to extend it twice by one year at the end of the first and second anniversary. These new facilities have similar terms to the previous facilitie.

 

On September 30, 2020, Signify repaid EUR 350 million of the 3 year EUR term loan debt meaning that the remaining debt under the committed term loan structure consists of EUR 50 million and USD 275 million with a maturity of three years (January 2023) and EUR 340 million and USD 225 million with a maturity of five years (January 2025).

 

On April 30, 2020, Signify announced the successful pricing of its inaugural EUR 1.275 billion Eurobond Offering comprising of EUR 675 million fixed rate notes due 2024 with a coupon of 2.000% and EUR 600 million fixed rate notes due 2027 with a coupon of 2.375%. The notes are listed on the Official List of the Luxembourg Stock Exchange and traded on the regulated market of the Luxembourg Stock Exchange.

 

The net proceeds of the notes were used to refinance the bridge loan used to finance the acquisition of Cooper Lighting, which was completed on March 2, 2020.

 

More information can be found here.