...- Soco 1 (Socotec), which provides construction and engineering-related risk-management and inspection and measurement services, intends to issue at the Holding Socotec level a 800 million senior secured term loan B (TLB) to refinance its existing 750 million TLB and 90 million revolving credit facility (RCF). - The new TLB will be composed of a 550 million tranche and a $300 million tranche (equivalent to about 250 million) and a 125 million senior secured RCF loan. - As part of the transaction, Socotec will pay a 40 million dividend to its shareholders that had injected 42 million of common equity to support the acquisition of bolt-ons Veritas and Cementys in the fourth quarter of 2020. - After performing above our expectations in 2020, thanks to the resilience of its infrastructure-related activities and overall business outside France, we expect strong momentum in 2021, fueled by growth across all divisions in a favorable macroeconomic environment and strong market fundamentals. - We...
