Belysse Completes refinancing of senior secured notes
Belysse announced the completion of the earlier announced refinancing program, which involves a new € 120m credit facility and a new € 20m revolving credit facility. We remind that Belysse starts to see lower raw materials costs filtering through in its P&L, with 3Q adjusted EBITDA up 51% sequentially. We acknowledge that the high leverage and weak macro economic conditions have dented investor perception on Belysse, but the improving earnings momentum and attractive forward valuation metrics prompt us to reiterate our Accumulate rating and € 2 target price.Balta Group NV is a Belgium-based company engaged in the home furnishings industry. The Company is a producer of textile floor coverings in Europe. Its products portfolio encompasses: woven and tufted area rugs (balta home), wall-to-wall carpets and residential carpet tiles (balta carpets and ITC), wall-to-wall contract carpet and commercial carpet tiles (arc edition, modulyss and Bentley), and needle felt and technical non-wovens (Captiqs). It has several production sites worldwide in the domestic market, Turkey and the United States. In addition, Balta Group NV delivers customer-focused approach to its business and is engaged in the solar panel projects in the Benelux region in order to supply renewable energy to fuel its production facilities.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.