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ABEO, a world leader in sports and leisure equipment, today announces the successful completion of its first Euro PP bond private placement for €20m. The bonds have been placed with institutional investors in order to boost ABEO's development in line with the 2020 strategic plan presented at the time of its IPO.
The placement was carried out via the issue of an unlisted 7-year bond tranche repayable at maturity in April 2025.
Alongside its customary bank financing arrangements, this initial bond issue will allow ABEO to extend its average debt maturity while enlarging its lender base to include institutional investors.
This transaction will help ABEO fund its development over the coming years and achieve its clearly defined, ambitious target of generating revenue of €300m by 2020.
ABEO Group CEO Olivier Estèves said: “This bond issue via private placement allows ABEO to diversify its sources of funding and thereby optimise its financial structure. Our latest fundraising will supplement our recent share issue and give us additional resources with which to pursue our strategy and build a robust and profitable Group worthy of its leadership aspirations. I would like to thank all investors for the confidence they have shown in ABEO via this transaction.”
Crédit Agricole CIB acted as arranger for the issue and CMS Francis Lefebvre acted as their advisors. Lamy Lexel are advisors to ABEO.
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Find out more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue of €167 million for the year ended 31 March 2017, 70% of which was generated outside France. At year-end it had 1,200 employees.
ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc.
ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and changing room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games.
ABEO (ISIN code: FR0013185857, ABEO) is listed on Euronext Paris – Compartment C.
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