Quadient SA - Quadient signs a €90m stimulus participating loan, at attractive conditions, contributing to the financing of its growing connected equipment platform
Quadient signs a €90m stimulus participating loan, at attractive conditions, contributing to the financing of its growing connected equipment platform
Paris, 20 June 2023
Quadient S.A. (Euronext Paris: QDT, eligible for PEA-PME investing), a leader in business solutions for meaningful customer connections through digital and physical channels, announces today the closing of a €90 million stimulus participating loan (Prêt Participatif Relance – PPR).
This stimulus participating loan, which was implemented with BNP Paribas, has an 8-year maturity and attractive conditions. It will be dedicated to financing connected equipment under Quadient’s subscription business model.
The development of Quadient’s Parcel Locker activity is one of the focuses of the Group’s “Back to Growth” strategic plan and the deployment of a new smart locker infrastructure, opened in subscription mode to carriers as well as retailers and other
e-commerce players, is a key part of this strategy. With rising e-commerce parcel volumes, having readily available open access to a large parcel delivery network alleviates the mounting pressure experienced by carriers and retailers. Specifically, in June 2022, Quadient announced the launch of its open network of parcel lockers in the UK with an aim to have 5,000 lockers installed in the coming few years. Four international carriers, including DHL, DPD and Evri, have already signed to use the network. Quadient’s ambition is to establish a dense, large and scalable network in the UK to consolidate first and last mile deliveries, especially in urban areas where there is medium to high delivery density.
Laurent du Passage, Chief Financial Officer of Quadient, said: "We are pleased with the signing of this stimulus participating loan at attractive conditions. This transaction provides the Group with an additional source of long-term financing at a time of accelerating investments for our connected equipment under the subscription mode. This loan contributes to our active debt management strategy while we confirm our target of 1.75x net debt leverage ratio excluding leasing by the end of FY 2023."
As of 31 January 2023, Quadient’s net debt was €671 million, and its consolidated net debt leverage ratio excluding leasing stood at 1.8x.
About Quadient®
Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on three key solution areas, Intelligent Communication Automation, Parcel Locker Solutions and Mail-Related Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid 60 and EnterNext® Tech 40 indices. Quadient shares are eligible for PEA-PME investing.
For more information about Quadient, visit
Contacts
| Catherine Hubert-Dorel, Quadient +33 (0)1 45 36 61 39 Caroline Baude, Quadient +33 (0)1 45 36 31 82 | OPRG Financial Isabelle Laurent / Fabrice Baron +33 (0)1 53 32 61 51 /+33 (0)1 53 32 61 27 |
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