CSG N.V. (the "Company") today announced it has secured the refinancing of certain CSG senior facilities to the new value of €3,062 million following the Company´s IPO and CSG credit rating upgrade.
The new debt structure reduces the Company’s refinancing concentration risk in 2029 and extends its senior debt maturity profile out to six years. At the same time, it significantly increases the Company's flexibility to address net working capital demand through the new and increased Revolving Credit Facility.
By replacing two syndicated facilities with a single syndicated facility structure, the transaction simplifies CSG’s funding structure. The restated syndicated facility is structured to transition from high-yield style, with customary security arrangements in place today, to unsecured investment-grade style terms.
The transaction, including the voluntary refinancing, attracted exceptional interest from the market and lowers the interest by 125bps-150bps compared to the previous syndicated facilities. This demonstrates the continued, strong credit investor support for CSG’s strategy and the Company’s ability to access capital on attractive terms.
The amount drawn under the new facility will remain unchanged from the old facility, at approx. €1.7 billion at close. The Company reaffirms its FY26 leverage guidance of less than 1.3x net debt to LTM EBITDA.
The transaction was led by BNP Paribas, Société Générale and UniCredit as Global Coordinators. Clifford Chance acted as legal counsel for CSG and Dentons represented the lending banks.
Key terms
New Debt Structure
Fully committed €3,062 million (€2,867 million and $225 million) single syndicated facility structure, comprising:
Previous Debt Structure
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