R-Logitech secures amended €20 million loan facility

MONACO/LUXEMBOURG - R-Logitech S.A. has successfully negotiated an amendment and restatement of its €20 million loan facility, originally dated July 22, 2024. This adjustment provides the company with increased financial flexibility and an extended maturity date to December 30, 2025, supporting the ongoing sale of its shares in Thaumas N.V.

The agreement, involving R-Logitech S.A. as the borrower, RL Holding S.A. as the guarantor, and R-Logitech S.A.M. as the parent company, alongside the Backstop Lenders, introduces several key changes to the original loan terms. Notably, the maturity date extension is aimed at giving the R-Logitech Group more time to finalize the sale process of its Thaumas N.V. shares.

Additionally, the Backstop Lenders have committed an extra €5 million to ensure the group maintains adequate liquidity. This additional funding is structured as a zero-coupon loan, adhering to the same initial redemption premium as the original commitments. This arrangement is designed to preserve the distribution waterfall outlined by the Noteholders in their resolutions and announced in the German Federal Gazette.

Moreover, the amendment includes waivers of 80% of historical accrued monthly premia, which have been accumulating since August 2024, and any future monthly premium accruals. These waivers represent a significant financial concession and provide further support to the R-Logitech Group.

The loan facility is part of a broader financial framework that also includes the 2018/2024 Notes and the 2022/2027 Notes, with R-Logitech Finance S.A. as the issuer of the latter. The financial restructuring reflects the company’s efforts to manage its debt obligations while pursuing strategic asset sales.

This financial maneuver is based on a press release statement and represents the latest development in R-Logitech’s ongoing efforts to strengthen its balance sheet and liquidity position. The company has not disclosed any further details regarding the potential impact of these changes on its future financial performance or strategy.

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