January 24, 2014

2014 US Private Placement

Neopost, the European leader and world’s number two supplier of Mail Solutions and an increasingly significant player in the fields of Communication and Shipping Solutions, today announced that it has successfully carried out a new $50 million senior unsecured debt issue.

 

This fundraising took the form of a private placement in the United States with a single investor, which has reiterated its confidence in Neopost’s credit quality by granting a new $50 million tranche with a maturity of six years, complementing the US private placement of $175 million set up in June 2012. The new issue was finalised in October 2013 at a variable rate of 3-month Libor +1.75%, with availability of funds deferred to 23 January 2014.

 

Jean-François Labadie, Chief Financial Officer of Neopost, comments: “With this new tranche complementing our private placement, we are continuing to make the most of the opportunities offered by the US market for obtaining new financing under very favourable conditions.”

 

The Group states that its net debt, which stood at €808 million at 31 July 2013, is intended to finance equipment placed with its clients and is lower than the level of future revenues from its leasing and rental activities.