Latécoère Strengthens Its Liquidity by Entering Into New PGE Loans and Commits to Launching a Rights Issue With Shareholders' Preferential Subscription Rights in the Upcoming Weeks
The new
Prêt Garanti par l'Etat (PGE) agreements cover a total amount of €130 million, securing a strong liquidity position and ensuring the completion of the transformation plan announced in 2020
The Company is projecting to launch a rights issue with shareholders' preferential subscription rights for a minimum amount of €162.5 million fully underwritten by its reference shareholder Searchlight Capital Partners to enable organic and inorganic growth
Regulatory News:
Latécoère (Paris:LAT), a tier 1 partner to major international aircraft manufacturers, today announced the signature of a conciliation protocol with all of its present and future financial creditors and its majority shareholder. This protocol concludes the discussions relating to a comprehensive recapitalization of the Group under the aegis of the Comité Interministériel de Restructuration Industrielle (CIRI).