Devoteam today announced that it has completed a 6-year debt private placement (Euro PP) of €30 million, bearing interest at a rate of 3.25%. The debt was subscribed by institutional investors.
This placement diversifies the Group’s sources of financing and extends the maturity profile of its debt, thus providing an increased financial flexibility at favorable market conditions.
After a successful repositioning of the business portfolio on the geographical areas and the offers defined in the EAGLE plan, Devoteam returned in 2014 to an active acquisition policy focused on innovation and value, particularly around the Cloud and Digital offers. The flexibility brought from the proceeds of the placement will allow the Group to continue executing this new phase of accelerated growth.
The transaction was arranged by BNP Paribas and HSBC.
Simultaneously, the Group renewed for 3 years its lines of credit in the form of confirmed revolving loans.