The AVRIL Group has secured funding for its strategic plan, AVRIL 2020, by raising a total of €880 million: €650 million through a "club deal" and €230 million via a program for the securization of customer debt.
Rendered possible by changes to the Group's organization implemented at the end of 2014 and the creation of AVRIL SCA, this initial funding will enable the company to meet the following objectives:
- to fund the ambitions of the AVRIL 2020 strategic plan (published in February 2016);
- to align the financial structure with the Group's strategy by mounting a significant share of funding to the level of AVRIL, while maintaining a balance with bilateral funding, notably at a local level in order to reflect its strong territorial roots;
- to extend the maturity of its debt, reduce the costs of funding and benefit from greater flexibility in a favorable market environment;
- to have access to the credit lines necessary to fund normal operations.
AVRIL is thus strengthening its sources of funding:
- funding through a "club deal" worth €650 million will involve the constitution of a new banking pool based on the Group's historical banks and new international partners;
- the existing securitization program will be broadened and optimized: from €150 million it will increase to €230 million.
This operation is indicative of the support and trust of AVRIL's banking partners in its strategic plan, which is resolutely customer-focused and will drive Group growth through innovation and its sectoral development model, both in France and internationally.
AVRIL has been advised by August & Debouzy. The financing instruments were arranged by:
- Natixis and Société Générale CIB (Coordinators) regarding the "club deal" funding;
- Crédit Agricole CIB for the securitization program.
The "Club Deal" involves the following banks: ARKEA, BNP Paribas, Crédit Agricole d’Île de France (Agent), Commerzbank, Crédit Mutuel-CIC, Crédit Lyonnais, HSBC, ING, KBC, Natixis and Société Générale.
About AVRIL Group:
Set up in 1983 at the initiative of French farmers in order to assure the future of the vegetable oils and proteins sector, AVRIL has become a major industrial and financial group that is developing in France and internationally.
Present in sectors as diverse as human foods, animal feeds and expertise, renewable energies and chemistry, AVRIL owns a portfolio of strong brands that are leaders in their markets: Diester®, Sanders, Lesieur, Puget, Matines, Bunica, Taous…
In more than 30 years, the Group has changed in size but its purpose has remained the same: to create sustainable value in the vegetable oils and proteins sector while contributing to better foods for humans and preservation of the planet.
To fulfill its mission, AVRIL draws strength from its industrial activities organized around the vegetable oils and animal production sectors, as well as from its financial activity, which operates through the finance and development company Sofiprotéol.
In 2015, the Avril Group achieved turnover worth €6.1 billion. It counts 7,200 employees working in 21 countries.
www.groupeavril.com | Twitter: @Avril
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