06.10.2017

Crédit Agricole CIB arranged the first “Euro PP” issued by Bim, the holding company or Robert Zolade, co-founder of Elior Group

Bim issued with success its first bond under the Euro Private Placement format for EUR 85M.

Following one-on-one meetings, the strong interest received from European institutional investors enabled Bim to issue its first Euro PP bond with a tailor-made documentation. The secured transaction was structured in two tranches (6 and 7 years) with fixed coupons.

This key transaction gives to Bim an access to new sources of long-term bullet financing. Thanks to this issuance, Bim benefits from a well-diversified financing base to secure its development. The structure of the Euro PP strongly contributes to Bim’s ability to actively manage its balance sheet and reduces its exposure to Elior Group share price variation.

Crédit Agricole CIB, leader of the Euro PP (Euro Private Placements) market for the first half of 2017 (source: Dealogic), played a leading role as sole arranger with CMS Bureau Francis Lefebvre as legal advisor. Gide Loyrette Nouel acted as BIM’s legal advisor.

Bim is the reference shareholder of Elior Group, the global player in catering and food services Robert Zolade co-founded 25 years ago. Furthermore, the holding has diversified its investments in hotels, campsites and education. Bim’s stakes remain closely linked with those of Elior Group since its participation in Elior Group represents more than 75% of its assets (c. EUR1.2Bn of total assets).

For more information: http://bim.fr/en

Crédit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world’s n°13 bank measured by Tier One Capital  (The Banker, July 2017). The Bank offers its clients a comprehensive range of products and services in capital markets, investment banking, structured finance and corporate banking.

The Bank provides support to clients in large international markets through its network with a presence in major countries in Europe, America, Asia Pacific and Middle East and North Africa.

For more information, please visit its website at www.ca-cib.com