APRR and Financière Eiffarie renew their banking facilities for a total amount of €2.4 billion

APRR and Financière Eiffarie renew their banking facilities for a total amount of €2.4 billion

Motorway concessions in France

- 25 February 2025 - 17:44

APRR and Financière Eiffarie have refinanced their credit lines contracted in 2020. The transaction, oversubscribed by 35% by a syndicate of 17 relationship banks, is for a total amount of €2.4 billion and includes two credit lines without financial covenant with the following characteristics:

APRR: a revolving credit line "RCF[1] " for general corporate purposes. The amount of this line has been reduced to €1.5 billion - compared to €2 billion previously - given the increase in available cash. Not currently used, it ensures the liquidity of APRR.

Financière Eiffarie: a term credit facility with an initial amount of €0.9 billion. It replaces the existing credit line of the same amount and will be amortised according to a growing repayment schedule from 2025 with a balance repaid at term.

Concluded for a period of 5 years, with two possible extensions of one year each, these facilities extend the financing horizon of APRR and Financière Eiffarie in accordance with the Group's proactive liquidity management policy.

Following the refinancing of Eiffage's RCF concluded on January 8, 2025 for €2 billion, this transaction demonstrates the renewed confidence of the Group's relationship banks.

It should be noted that the Group has a solid financial structure both at Eiffage S.A. (and its Contracting subsidiaries), which has a short-term rating of F2 by Fitch, and at its Concession entities, the largest of which is APRR, with a long-term rating of A stable by Fitch and A- stable by S&P.

Read the press release