The Goodwin Paris Debt Finance Team advised historical lenders BNP Paribas, CACIB and Natixis as well as CIC, Fortis, La Banque Postale, LCL and Société Générale in their agreement with listed group Pierre et Vacances – Center Parcs, a European resort group that develops and manages tourist residences, on a revolving credit facility (RCF) amounting to €250 million.
This agreement is part of the Group’s decision to proceed with a voluntary early repayment of €303 million in principal of its restructured debt and €25 million in principal of its state-guaranteed loan, using available cash. The new RCF line will enable the Group to maintain its flexibility regarding its ongoing cash requirements once the repayment is complete.
The Goodwin team was led by Arnaud Fromion and included Ambre Ronnel on financing aspects.
Arnaud Fromion also advised the lenders on the Group’s financial restructuring in 2021.