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Pierre et Vacances S.A.: Signing of a binding offer with certain of the Group's existing financial partners in order to provide a new money financing up to EUR 300 million


(2)
Regulatory News:
Pierre et Vacances S.A. (Paris:VAC) announces that it has accepted today a binding financing offer from some of its existing banking partners, EuroPP 2022 and 2025 holders, and Ornane holders (the
Financial
New Money Financing ), following a competitive process open to third party lenders.
This financing will mainly be used to meet the Group s short-term needs in relation to its activities and operational constraints pending the completion of an equity strengthening transaction (
opération de renforcement des fonds propres
The main terms and conditions of the New Money Financing are detailed below.
The New Money Financing will consist of the following two successive tranches: ....

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Holiday resort group Pierre & Vacances - hit by COVID crisis - eyeing strengthening its finances


By Reuters Staff
1 Min Read
PARIS, Jan 26 (Reuters) - French holiday resort company Pierre & Vacances, one of many companies in the tourism sector to have been hit hard by the COVID-19 pandemic, said on Tuesday it was considering strengthening its financial position to cope with the crisis.
“As demonstrated by its post-lockdown performances last summer, the group has structural strengths that will enable it to bounce back very quickly as soon as health conditions allow the reopening of its tourist sites,” added the company in a statement. (Reporting by Sudip Kar-Gupta, editing by Louise Heavens) ....

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Pierre & Vacances-Center Parcs: First Quarter 2020/2021 Revenue


Pierre & Vacances-Center Parcs: First Quarter 2020/2021 Revenue
Regulatory News:
1] First quarter 2020/2021 revenue
In IFRS standards, Q1 2020/2021 revenue totalled €141.7 million (€98.7 million for the tourism activities and €43.1 million for the property development activities).
The Group nevertheless continues to comment on its revenue and the associated financial indicators, in compliance with its operating reporting namely:
with the presentation of joint undertakings in proportional consolidation,
- excluding the impact of IFRS16 application
A reconciliation table presenting revenue stemming from operating reporting and revenue under IFRS accounting is presented in the appendix at the end of the press release.
Restrictive measures implemented by various European governments to face the second wave of the coronavirus pandemic took a harsh toll on the Group s Q1 revenue. ....

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The 'new normal' for French ski resorts in 2021


The ‘new normal’ for French ski resorts in 2021
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Skiers in resorts like Les Arcs will be able to avoid queues or crowds with the help of an app this winter
Credit:
tristan shu
7 January 2021 • 11:00am
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Whether British skiers and snowboarders will be able to travel restriction- or quarantine-free to the French Alps this winter remains to be seen. 
Additionally, while ski resorts have been open for other activities since mid-December, a decision on whether ski lifts in France will be allowed to open, many for the first time this winter, has been postponed, with an announcement on a new date due this evening.  ....

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