CLIENT: Rekeep S.p.A.

TRANSACTION: Capital markets

DATE: January 2021

SECTOR: Energy, Utilities and Infrastructure

 

Deal description:
Rekeep S.p.A., leading Italian group in the integrated facility management, has issued €350m Senior Secured Notes due 2026, that will bear interest at a rate equal to 7.25% per annum.

The proceeds from the offering of the Senior Secured Notes, listed Luxembourg Stock Exchange, along with cash on balance sheet, have been used to redeem the existing Notes, to pay costs related to redemption premium of the existing Notes and for payment of related fees and expenses.

Rekeep has also entered into a new Revolving Credit Facility (RCF) agreement to provide up to €75 million, which will be used to repay the existing revolving credit facility and for general corporate and working capital purposes.

As of 30 September 2020, Rekeep Group reported pro forma consolidated LTM revenue equal to €1,047 million and EBITDA of €115 million employing around 27,700 people.

Vitale acted as financial advisor of Rekeep.

Deal value: €350m + €75m

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