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June 29, 2016

Edenred successfully issues a €250 million Schuldschein loan

The transaction enables the Group to optimize and diversify its sources of financing

Today, Edenred successfully completed the issue of a Schuldschein loan – a German form of private placement – consisting of 5- and 7-year tranches with fixed- and floating-rate coupons, with an average maturity of 6.1 years.

The issue was significantly oversubscribed and was therefore increased from the launch amount of €125 million to €250 million in order to meet investor demand. 

At an average financing cost of approximately 1.2%, the financing was raised in particularly favorable conditions, allowing the Group to reduce its average cost of debt and extend the average maturity. It also helps to diversify Edenred's sources of financing and expand its investor base. 

Patrick Bataillard, Edenred’s Executive Vice President, Finance, commented: “The success of the issue and the high level of demand show how much confidence investors place in the solid nature of our business model and the strength of our balance sheet. The issue enables us to secure our next loan repayment and extend the maturity of our debt, while the particularly attractive terms of the transaction resulted in a reduction of our average cost of debt. The operation also gives us the opportunity to diversify our sources of financing and the profile of our investors.” 

The issue was arranged by Bayerische Landesbank and Commerzbank AG. 

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