ESI Group: Signature of a new syndicated loan amounting to €40 million to support the Group’s accelerated development
PARIS--(BUSINESS WIRE)--Jan 7, 2019--Regulatory News:
ESI Group (Paris:ESI) (FR0004110310 – ESI), pioneer and world-leading provider in Virtual Prototyping announces, as part of its financing policy, the signature of a €40 million syndicated credit line, taken out with a consortium of leading European banks.
This credit line will be used to fund the acceleration of the Group’s development plan and diversify its financial partners. It replaces the syndicated credit line signed in 2015.
Olfa Zorgati, ESI Group’s Chief Financial Officer comments: “We are delighted with the success of this transaction, which demonstrates the strength of our relationships with our financial partners. Their continued confidence will allow us to accelerate the Group’s development while securing our short- and medium-term financing needs.”
The banking consortium is made up of the following 7 members:Arranger and Agent: Banque Palatine Participants: Banque Palatine, HSBC France, Crédit Agricole Ile-de-France, CIC Paris, Crédit du Nord, Société Générale, BNP Paribas
You can find all our press releases at: www.esi-group.com/company/press
About ESI Group
ESI Group is a leading innovator in Virtual Prototyping software and services. Specialist in material physics, ESI has developed a unique proficiency in helping industrial manufacturers replace physical prototypes by virtual prototypes, allowing them to virtually manufacture, assemble, test and pre-certify their future products. Coupled with the latest technologies, Virtual Prototyping is now anchored in the wider concept of the Product Performance Lifecycle TM, which addresses the operational performance of a product during its entire lifecycle, from launch to disposal. The creation of Hybrid Twin TM, leveraging simulation, physics and data analysis, enables manufacturers to deliver smarter and connected products, to predict product performance and to anticipate maintenance needs.
ESI is a French company listed in compartment B of Euronext Paris. Present in more than 40 countries, and addressing every major industrial sector, ESI Group employs about 1200 high-level specialists around the world and reported annual sales of €135 million in 2017.
For further information, go to www.esi-group.com.
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SOURCE: ESI Group
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PUB: 01/07/2019 12:00 PM/DISC: 01/07/2019 12:01 PM