Verallia obtains consent of group’s lenders related to takeover bid

Verallia announces today that it has obtained the consent of its bank lenders to amend the change of control clause of its existing banking financing facilities1 so that the completion of the public takeover bid initiated by BWGI, filed with the French Financial Markets Authority (Autorité des marchés financiers) on April 24, 2025 (the “Offer”), will not trigger their early repayment.

With regard to certain other Group financings, Verallia has also obtained Bpifrance’s waiver of its right to request early repayment of an amortizable loan2 in the event of the change of control clause stipulated in this loan being triggered in connection with the completion of the Offer, and has also obtained Crédit Agricole Leasing & Factoring’s (CALF) consent to amend the change of control clause provided for in the Group’s pan-European and UK factoring programs3, so that it will not be triggered by the completion of the Offer. CALF has also agreed to extend the term of these factoring programs from December 1, 2025, to June 1, 2026.

Verallia is pleased with the confidence shown by its financial partners.

About Verallia
Verallia re-imagine glass for a sustainable future. They redefine how glass is produced, reused and recycled, to make it the world’s most sustainable packaging material. With almost 11,000 employees and 35 glass production facilities in 12 countries, Verallia is the European leader and world’s third-largest producer of glass packaging for beverages and food products.

1 Bank financing facilities comprising (i) a syndicated credit agreement of €1.1bn comprising (a) a term loan of an initial principal amount of €550m, of which the principal amounts outstanding at the date of this press release amount to €200m, bearing interest at Euribor + 1.75%, and (b) a revolving credit facility (RCF) of €550 million, unused at the date of this press release, bearing interest at Euribor + 1.25% and (ii) a revolving credit facility of €250m, drawn for €120m as of the date of this press release, bearing interest at Euribor + 0.80%.
2 Outstanding amounts due of €23m as of March 31, 2025.
3 Factoring programs for a maximum amount of €500m and €50m, respectively.

Source: Business Wire