Econocom and its banking
partners have finalised an agreement to reorganise the financing
scheme put in place for the purpose of acquiring former Société
Générale subsidiary ECS Group in October 2010.
The agreement speeds up
Econocom Group’s debt reduction and allows for an early repayment
of a €40m bridge loan, thereby cancelling a capital increase
The repayment comes after
Econocom made an early repayment of €40m on a €132m syndicated loan
at the end of March 2011.
Econocom chairman Jean-Louis
Bouchard said: “This resizing of our financing, which was made
possible by the positive development of ECS Group, means we can
optimise the group’s financial costs.
“This reductions will be welcomed by our shareholders, as
there will be no share dilution resulting from a capital