Touax: New Loan Agreement

PRESS RELEASE                                                                                                                       Paris, 12 June 2019 - 5:45 p.m.

YOUR OPERATIONAL LEASING SOLUTION

NEW LOAN AGREEMENT

Touax achieves a decisive step towards its strategic development with the agreement on a new loan at Touax SCA level.

This €40m senior secured loan is expected to be finalised by mid-July, subject to the usual terms and conditions for this type of deal.

The funds will go towards the Group’s growth and profitability strategy:

• ORNANE bond will be refinanced with a 5-year loan, thus offering strong visibility over the Group’s liquidity;
   
• The remaining funds will support an ambitious investment plan, supplemented by the issuance of asset-backed financings, paving the way for additional investments in tangible assets used to generate more recurring lease revenues for years to come.

The Group launched a strategic refocusing plan in late 2017, centred on its three core businesses in the transport equipment leasing sector. In 2018, we completed the initial phases of our action plan aimed at boosting profitability, including the instigation of a continuous improvement programme, a new organisation for the Freight Railcar activity, the signature of further investment commitments of $80m from an infrastructure fund and asset refinancing for €110 million, and a Euro Private Placement of €16.6 million.

We are forging ahead on this strategic path in 2019, notably making gradual investments in the Containers division and implementing new organisational structure in the Freight Railcars division to increase the availability of existing railcars in today’s buoyant market environment.

TOUAX Group leases out tangible assets (freight railcars, river barges and containers) on a daily basis worldwide, both on its own account and for investors. With nearly €1.2bn in assets under management, TOUAX is one of the leading European players in the leasing of such equipment.

TOUAX is listed on the EURONEXT stock market in Paris - Euronext Paris Compartment C (ISIN code: FR0000033003) - and is listed on the CAC® Small, CAC® Mid & Small and EnterNext©PEA-PME 150 indices.

For further information please visit: www.touax.com

Contacts:

TOUAX                                                                                                                                    ACTIFIN
Fabrice & Raphaël WALEWSKI                                                                               Ghislaine Gasparetto
Managers                                                                                                                                             
touax@touax.com                                                                                               ggasparetto@actifin.fr
www.touax.com                                                                                                    Tel: +33 1 56 88 11 11
Tel: +33 1 46 96 18 00                                                                                                                           

Attachment

• New Loan Agreement EN