SMCP SA
12/31/2019
|
EBITDA Multiple
|
|||
---|---|---|---|---|
(EUR in Millions)
|
Amount
|
Maturity
|
Rate
|
Book
|
|
||||
€200M NEU Commercial Paper Program
|
128.0
|
|
|
|
€40M Bridge Loan 1
|
40.0
|
|
EURIBOR + 2.000%
|
|
Bank Overdraft Facility
|
3.0
|
|
|
|
€200M Unsecured Revolving Credit Facility due 2024 2
|
-
|
May-2024
|
EURIBOR + 1.750%
|
|
€265M Unsecured Term Loan due 2024 3
|
265.0
|
May-2024
|
EURIBOR + 2.150%
|
|
Total Unsecured Bank Debt
|
436.0
|
1.5x
|
||
IFRS 16 Lease Liabilities
|
504.2
|
|
|
|
Total Lease Liabilities
|
504.2
|
3.3x
|
||
€250M Secured Convertible Bond due 2021 4
|
250.0
|
Sep-21-2021
|
4.000%
|
|
Total HoldCo Secured Bond Debt
|
250.0
|
4.2x
|
||
Total Debt
|
1,190.2
|
4.2x
|
||
Less: Cash and Equivalents
|
(52.3)
|
|||
Net Debt
|
1,137.9
|
4.0x
|
||
Operating Metrics
|
||||
LTM Revenue
|
1,131.9
|
|||
LTM Reported EBITDA
|
286.3
|
|||
|
||||
Liquidity
|
||||
RCF Commitments
|
200.0
|
|||
Other Liquidity
|
67.5
|
|||
Plus: Cash and Equivalents
|
52.3
|
|||
Total Liquidity
|
319.8
|
|||
Credit Metrics
|
||||
Gross Leverage
|
4.2x
|
|||
Net Leverage
|
4.0x
|
|||
Notes: Market data as of June 25. Capital structure is post IFRS-16. LTM EBITDA is the company's adjusted figure, as reported. HoldCo convertible bond excluded from SMCP SA reported financial debt. Other liquidity includes undrawn amounts under the bank overdraft facility. 1. Matures in Sept. 2020, with optional 6 month extension. Unknown if secured. 2. Calculated as total non-current financial debt (excluding overdrafts) less term loan. Interest rate not disclosed. 3. Interest rate not disclosed. Repayable in €55M instalments in May 2021, May 2022, May 2023, with remaining payable on May, 9 2024. 4. Secured convertible bond, issued by European TopSoho Sarl. Convertible at €22.299. Secured by Issuer's present and future rights, title and interest against the Custodian, by an agreement of security of all the Issuer's present and future rights, title and interest in and to the cash account and securities account. |
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