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Sorrell expects S4 Capital to exceed 2022 market projection in latest trading update

Sorrell expects S4 Capital to exceed 2022 market projection in latest trading update
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Investegate |S4 Capital PLC Announcements | S4 Capital PLC: Update on debt financing and trading

Update on debt financing and trading The Company has engaged Credit Suisse AG, London branch, HSBC Bank plc and Barclays Bank plc as lead arrangers for a seven year €375 million senior secured term loan and in addition a five year £100 million equivalent multicurrency senior secured revolving credit facility with Credit Suisse, HSBC, Barclays, JP Morgan and BNP Paribas to refinance its existing €25 million and US$28.9 million term loans and its €35 million and €43.5 million multicurrency revolving credit facilities and to provide approximately £200 million for general corporate purposes, including to fund the cash element of future mergers, which is typically one-half of overall consideration. The Company will maintain its policy of maximum net leverage not exceeding 1.5-2x EBITDA.

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