[iliad press release] The iliad Group puts in place three new financing facilities representing an aggregate €5 billion

Press release                                                                                                         

Paris, July 27, 2022

The iliad Group puts in place three new  financing facilities representing an aggregate €5 billion

The iliad Group has successfully placed three bank financing facilities, representing an aggregate €5 billion, with a pool of 23 leading international banks.

This operation has enabled the Group to strengthen its financial structure, increase its liquidity and extend the average maturity of its debt. The significant liquidity available under the facilities will help support the Group’s growth and development.

The overall operation involved:

• Setting up a new €1 billion term loan, repayable at maturity in five years.

• Setting up a new €2 billion facility with a maximum maturity of 2.5 years, giving iliad unrestricted financial agility.

• Refinancing the existing revolving credit facility, increasing its amount to €2 billion (from €1.65 billion previously) and extending its maturity to seven years (versus its current residual maturity of three years).

Nicolas Jaeger, Deputy CEO – Finance of the iliad Group, said: “Demand for the operation was extremely high, once again demonstrating the strong support of our banking partners and their confidence in the continued execution of our Odyssey 2024 plan and in the Group’s European development strategy.”

  

The iliad Group was assisted in putting in place this financing by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis CIB and Société Générale acting as Global Coordinators; Bank of America, Commerzbank, Crédit Industriel et Commercial, J.P. Morgan, Helaba, SMBC and UniCredit acting as Initial Arrangers; and Banco Sabadell, Banco Santander, Bank of China, Bayerische Landesbank, Caisse Régionale de Crédit Agricole de Paris et d’Ile de France, Crédit Lyonnais, Erste Group Bank, Goldman Sachs, La Banque Postale, MUFG, Raiffeisen Bank International and Royal Bank of Canada acting as Additional Arrangers.

About the iliad Group

Created in the early 1990s, the iliad Group is the inventor of the world’s first triple-play box and has grown into a major European telecoms player, standing out for its innovative, straightforward and attractive offerings. The Group is the parent of Free in France, iliad in Italy and Play in Poland, has over 15,000 employees serving 41 million active subscribers, and generated €7.6 billion in pro forma revenues in 2021. In France, the Group is an integrated Fixed and Mobile Ultra-Fast Broadband operator and had 20.7 million retail subscribers at March 31, 2022 (13.7 million mobile subscribers and 7.0 million fixed subscribers). In Italy – where the Group launched its business in 2018 under the iliad brand, becoming the country’s fourth mobile operator – it had over 8.8 million subscribers at end-March 2022. Following the acquisition of the Polish mobile operator, Play, in November 2020, the iliad Group became Europe’s sixth-largest mobile operator by number of subscribers (excluding M2M). With the acquisition of UPC Polska – which closed on April 1, 2022 – the Group’s aim is to become a convergence leader in Poland.

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