Quadient Secures USD50 Million Loan from Bank of America

Quadient S.A., a provider of global automation solutions, has announced a USD50 million bank loan from Bank of America. This recent financial move is intended to bolster Quadient's financial position as it approaches debt maturities in 2025. The three-year variable rate credit facility aims to assist in refinancing efforts, notably towards a substantial bond issue of €260 million and a Schuldschein tranche of €29 million.

This agreement requires Quadient to maintain its main financial covenants, such as keeping a leverage ratio below 3.0x and ensuring shareholders' equity remains over €600 million. As of July 31, 2024, Quadient’s leverage ratio was 1.6x, with shareholders’ equity at €1,064 million. Laurent du Passage, Quadient's CFO, expressed satisfaction with this partnership, highlighting its role in refinancing and financial optimization.