Safilo Group announces the signing of a new financing agreement for a total of Euro 300,000,000, maturing in September 2027 (the “New Financing Agreement”) and consisting of a Term Loan facility of Euro 150,000,000, a Revolving Credit Facility of Euro 75,000,000 and a Capex line of Euro 75,000,000.
The utilisation of the new Term Loan facility, set for today’s date, permits the simultaneous early repayment of the entire bank debt currently represented by the Term Loan Credit Facility signed in 2018 with maturity June 2023 (equal to Euro 35,000,000 in June 2022), and by the SACE Term Loan Credit Facility signed in 2020, expiring in June 2026
(equal to Euro 108,000,000 in June 2022).
The New Financing Agreement, signed with a pool of banks consisting of BNP Paribas Italian Branch, Banca Nazionale del Lavoro S.p.A., ING Bank N.V. Milan Branch, Intesa Sanpaolo S.p.A., and Unicredit S.p.A, therefore extends the duration of the Group’s debt and provides the financial resources needed to support the growth of Safilo in the years to come.
About Safilo Group
Established in 1934 in Italy’s Veneto region, Safilo Group is one of the eyewear industry’s key players in the design, manufacturing and distribution of prescription frames, sunglasses, outdoor eyewear, goggles and helmets. The Group designs and manufactures its collections by blending stylistic, technical and industrial innovation with quality and skillful craftsmanship. With an extensive global presence, Safilo’s business model enables it to monitor its entire production and distribution chain. From research and development in five prestigious design studios, located in Padua, Milan, New York, Hong Kong and Portland, to its company- owned production facilities and network of qualified manufacturing partners, Safilo Group ensures that every product offers the perfect fit and meets the highest quality standards. Reaching approximately 100,000 selected points of sale worldwide with an extensive wholly owned network of subsidiaries in 40 countries and more than 50 partners in 70 countries, Safilo’s well-established traditional wholesale distribution model, which encompasses eyecare retailers, chains, department stores, specialized retailers, boutiques, duty free shops and sporting goods stores, is complemented by Direct-to-Consumer and Internet pure player sales platforms, in line with the Group’s development strategies. Safilo Group’s portfolio encompasses own core brands: Carrera, Polaroid, Smith, Blenders, Privé Revaux and Seventh Street.
Licensed brands include: Banana Republic, BOSS, Carolina Herrera, Chiara Ferragni, Dsquared2, Eyewear by David Beckham, Fossil, havaianas, HUGO, Isabel Marant, Jimmy Choo, Juicy Couture, kate spade new york, Levi’s, Liz Claiborne, Love Moschino, Marc Jacobs, Missoni, M Missoni, Moschino, Pierre Cardin, PORTS, rag&bone, Rebecca Minkoff, Tommy Hilfiger, Tommy Jeans and Under Armour.
The parent company, Safilo Group S.p.A., is listed on the Italian Stock Exchange (“MTA”) organized and managed by Borsa Italiana (ISIN code IT0004604762, Bloomberg SFL.IM, Reuters SFLG.MI). In 2021, Safilo Group recorded net revenues for Euro 969.6 million.