Econocom Raises €240M and Refinances 2027-2028 Maturities
Econocom has completed a private placement of €240 million in Schuldschein instruments. The transaction is structured in tranches of 3 and 5 years, allowing the group to proactively refinance its 2027-2028 maturities and extend its debt profile.
Full Coverage of 2027 Needs and Majority of 2028 Maturities
The placement, initially targeted at €100 million, was increased to €240 million due to strong investor demand. The funds raised enable Econocom to fully cover its 2027 Schuldschein maturity (€132M) and approximately 70% of its 2028 maturity (€108M out of €155M total). The operation thus pushes the repayment profile to 2029 and 2031, according to the press release.
Commerzbank and Landesbank Baden-Württemberg served as Joint Lead Arrangers, while ABN AMRO, Crédit Agricole CIB, and Crédit Lyonnais acted as Co-Lead Arrangers.
A Sign of Investor Confidence in the Economic Model
The oversubscription of the placement reflects investors' appetite for Econocom's profile, according to the group. Philippe Renauld, Director of Finance and M&A at the group, stated that the operation 'strongly attests to the investors' confidence in the economic model and financial discipline of Econocom.' He emphasized that this fundraising 'also aims to support the transformation of the group and the execution of the One Econocom plan.' Econocom thus enhances its financial flexibility by spreading its repayment obligations over a longer period, at a time when the group continues its European consolidation, notably with.
