Solocal Group : Announcement of a debt restructuring plan
The conciliation procedure (opened on 16 March 2020 for a period of 4 months) ultimately led to the elaboration of a debt restructuring plan based essentially on a capital increase of EUR 347 m, fully guaranteed by the bondholders. It will comprise EUR 85m of net cash proceeds and the balance in debt reduction or debt-to-equity conversion. It will be complemented by an additional financing line of EUR 32m. This plan will be submitted to the shareholders' vote at the Extraordinary...Solocal Group SA is a France-based company, which is engaged in local online communication. The Company provides digital content, advertising solutions and transactional services that connect people with local businesses. Solocal Group SA operates in France, Spain, Austria and the United Kingdom and supports the online development of SMB and client accounts, mainly through its four flagship brands: PagesJaunes (engaged in local advertising and information on the Internet and in mobile and print media), Mappy (a portal of services relating to travel: maps, journey planners, local area information searches, before and during the journey), Ooreka (a database of content with practical guides, tutorials, among others, written by such specialists as notaries, lawyers, doctors, electricians and gardeners, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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