Your.World completes €1 billion syndicated term loan refinancing of existing private credit facilities
- As part of the combination of Your.Cloud and Your.Online under Your.World, Your.World has entered into a €1 billion Term Loan, maturing in November 2031, and a new €200 million Revolving Credit Facility, maturing in May 2031.
- The refinancing was Your.World’s debut issuance in the European syndicated term loan market and was heavily oversubscribed by debt investors
- The €200 million Revolving Credit Facility was provided by BNP Paribas, JP Morgan, ABN AMRO, Goldman Sachs, ING, Morgan Stanley and Rabobank.
Amsterdam, The Netherlands. Your.World, with the support of its principal shareholder, Strikwerda Investments, has today successfully completed the refinancing of the indebtedness of Your.Cloud and Your.Online under a covenant-lite Euro denominated syndicated term loan facility.
The refinanced capital structure consists of €1 billion Term Loan, maturing in November 2031, and €200 million Revolving Credit Facility, maturing in May 2031. Your.World’s successful debut issuance in the European syndicated term loan market, which was oversubscribed and consummated at pricing that was tighter than the price-talk, provides a patient and attractive capital structure which will support implementation of its business plan including M&A.
Robin van Poelje, CEO of Your.World: “This new financing structure fits very well with our long-term growth ambitions, where we aim to continue growing both organically and via selective acquisitions to expand our European footprint in the Online Solutions segment. The trust that investors and banks have given us in providing these debt facilities is testimonial of our proven track record of long-term value creation. We look forward to continuing this journey of growth and want to thank the banks that have supported us in realizing this transaction.”
Your.World received a B rating from S&P Global Ratings UK Limited and B2 rating from Moody’s Investors Service Ltd. 1
BNP Paribas and JP Morgan acted as lead arrangers on the refinancing, with ABN AMRO, Goldman Sachs, ING, Morgan Stanley and Rabobank as co-arrangers.
Your.World and Strikwerda Investments were advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP (lead partners: Neel Sachdev and Kanesh Balasubramaniam).