Sfa Credit Agreement

Unlike a revolving credit facility that is used in cash, ancillary facilities are not normally of a species likely to be distributed among several lenders. The documents are therefore intended to be made available bilaterally. For more information on the revolving credit facility, in particular on the operation of revolving credits, please see practical information on institutions for the elderly. On June 11, the Company announced the launch of an application for waiver authorization from its existing lenders under its credit facilities to allow the company to apply (i) for the opening of an “accelerated financial safeguard procedure” (a form of conservatory procedure negotiated only for financial creditors) (“SFA”) on Technicolor SA and (ii) to seek recognition of the SFA in the United States. , in accordance with the rules in force (the recognition procedure), without such acts being a failure in the context of credit facilities. The agreement in principle was supported by the company`s board of directors. It remains subject to the completion of negotiations on its terms, as well as negotiations on the necessary documents and agreements. Paris, France, June 22, 2020 – Technicolor (Euronext Paris: TCH; OTCQX: TCLRY (the “company”) announces today that it has reached an agreement in principle on a financial restructuring plan (the “agreement in principle”) that corresponds to the company`s objectives, (i) to obtain a new financing of 420 million euros to cover the group`s liquidity needs and (ii) to erase the balance sheet of the company by The Equitization of up to 660 million euros under the company Term Loan B. The company received the support of a majority (65.77%1) from its lenders under Term Loan B and Revolving Credit Facility, as well as Bpifrance Participations, an institutional shareholder. In the case of the insolvency of a business or business, the main task of the holders is to recover and distribute to the creditors of the company or the individual assets belonging to a company or an individual.

Office holders have different obligations and powers to achieve this. Indeed, the mezzanine installation is documented by a mezzanine facility agreement (AMF). Although there are usually significant differences between the senior`s conditions as syndic scriptural facilities, for example. B letters of credit – these are indicated in the documentation, and this practice note addresses the typical characteristics of the Mezzanine facility and explains the major changes needed to transform an agreement on institutions for the elderly into a mezzanine facility agreement.