Rubis Énergie Secures a Syndicated Loan of €1.1 Billion
Rubis Énergie SAS has arranged an inaugural syndicated loan of €1.1 billion to refinance part of its existing debt and support its operations, according to a Rubis press release.
Details of the Syndicated Loan
The unsecured syndicated loan is divided into several parts: a term loan of €250 million (Facility A) with a maturity of 5 years, a non-amortizing loan of €350 million (Facility B) also over 5 years, and a revolving credit facility of €500 million over 5 years, which can be extended up to 7 years under certain conditions. An additional uncommitted 'accordion' capacity of up to €300 million is also planned to finance future acquisitions and investments.
Banking Consortium and Financial Terms
The transaction was concluded with an international banking consortium, comprising 11 institutions from 8 banking groups, according to Rubis. BRED serves as the coordinator and documentation agent, while CACIB (Crédit Agricole CIB) acts as the credit agent. The financial terms include an initial margin adjustable based on the group's financial leverage ratio and commitments to covenants similar to existing lines.
Impact on Rubis Énergie’s Financial Structure
The operation allows Rubis Énergie to simplify its balance sheet, extend the average maturity of its bank debt, and increase its financial flexibility. The new structure replaces several bilateral lines and is accompanied by an additional capacity that can be activated to create new financing lines. Marc Jacquot, managing director and CFO of Rubis Group, emphasizes that this initiative is part of a favorable market context for quality issuers and reflects the strength of Rubis's banking relationships.
