Avolta has successfully completed the partial refinancing of its EUR 750 million Senior Notes due 2027 with the placement of EUR 400 million Senior Notes due 2033 and a cash tender offer of up to EUR 400 million to the existing bondholders. The tender offer resulted in bondholders tendering 47.2%, or EUR 354 million. The remaining outstanding Senior Notes due 2027 will be either refinanced later in 2026 or kept until maturity and repaid in cash.
Following the transaction, Avolta’s debt structure remains well balanced with a mix of fixed/floating rate debt of 64%/36% and an average interest rate of 3.1%. The current available liquidity position ensures flexibility for any future financing needs of the company.
Commenting on this, Yves Gerster, Avolta’s Chief Financial Officer, said: “We are very pleased to announce this successful refinancing, which significantly extends our debt maturity and enhances our financial flexibility. Indeed, the spread vs. the 7-Year Bund of 185bps represents the lowest in our company’s history and underscores investor confidence in Avolta."
