Revolving credit facility renewed in advance with

Revolving credit facility renewed in advance with a new maturity in 2028

Quadient’s first Sustainability-linked loan

Paris, 16 June 2023

Quadient S.A. (Euronext Paris: QDT, eligible for PEA-PME investing), a leader in business solutions for meaningful customer connections through digital and physical channels, announces today the closing of a €300 million syndicated Revolving Credit Facility (RCF).

This Revolving Credit Facility was negotiated with a syndicate of seven international banks including BNP Paribas, Crédit Agricole Corporate and Investment Bank, HSBC Continental Europe, Le Crédit Lyonnais and Société Générale, as mandated lead arrangers and bookrunners. In addition, Société Générale acted as syndication coordinator and Crédit Agricole Corporate and Investment Bank as ESG coordinator and Facility Agent. This €300 million RCF has an initial tenor of five years, maturing in June 2028, with a €100 million accordion feature, bringing the potential total amount of the credit line up to €400 million depending on the banks’ approval. The new credit facility replaces the existing undrawn €400 million RCF, which was set to mature in June 2024.

Despite the RCF being oversubscribed, the recent deleveraging of the Group led to a reduced notional for the new RCF compared to the existing one, still providing enough flexibility to cover upcoming maturities if needed. At the date of signing, the applicable margin is unchanged at 85bp compared to the previous RCF. Importantly, this is the first Sustainability-linked loan of the Group. The ESG criteria are based on Quadient’s official CO2 reduction targets1 for both scopes 1 & 2 and for scope 3, with each KPI having a +/- 2bp impact on the RCF applicable margin.

Laurent du Passage, Chief Financial Officer of Quadient, said: “We are delighted with the completion of this transaction which provides the Group with financial flexibility at attractive terms under the current market conditions. The transaction, which attracted significant demand, highlights the fundamental strength of our recurring business model, solid balance sheet and our strong ESG commitment. We are also pleased to be able to count on the commitment of our long-standing banking partners who have continued to support us throughout our “Back to Growth” strategic plan.”

As of 31 January 2023, Quadient’s net debt was €671 million, and its consolidated leverage ratio excluding leasing was at 1.8x.

About Quadient®

Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on three key solution areas, Intelligent Communication Automation, Parcel Locker Solutions and Mail-Related Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid 60 and EnterNext® Tech 40 indices. Quadient shares are eligible for PEA-PME investing.

For more information about Quadient, visit https://invest.quadient.com/

Contacts

1 CO2 reduction target for scope 1 & 2: -50,4 %, vs the 2018 baseline. The target is aligned with the 1.5°C SBTi trajectory.
CO2 reduction target for scope 3 categories, including purchased goods and services, use of sold products, business trips, and employee commuting: -40 % of reduction by million euros of revenue by 2030 versus the 2018 baseline. The target is aligned with the well below 2°C SBTi trajectory.

2023 — QDT — Revolving facility — GB




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