Bridgepoint's Siblu in €80m refinancing

The new facility was provided by existing lenders Barclays and Babson, which where joined by Société Générale, Tikehau IM and Haymarket Financial. The fresh debt is understood to equate to 4x Siblu's 2012 EBITDA.

The refinancing will allow Siblu to reduce the cost of its funding, extend the terms of its loans and secure flexibility to raise further financing down the line, the GP told unquote". The fact that new French lenders participated in the refinancing will also diversify Siblu's sources of funding away from a UK-focused syndicate.

Previous funding
Siblu was originally acquired by Hermes Private Equity for £100m in 2006. The company was then transferred to the portfolio of Bridgepoint Development Capital when Bridgepoint took over Hermes in 2009.

Company
Headquartered in London but mainly operating in the French market, Siblu manages holiday parks, with 14 sites on France's west and Mediterranean coasts. The company has mainly been growing via acquisitions on what Bridgepoint deems to be a fragmented market.

Advisers
Company - DC Advisory, Ciara O'Neil, Sarah Davies, Simon Tilley (Debt).

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• Topics
• France
• Restructuring
• Consumer
• UK / Ireland
• Bridgepoint
• Refinancing
• Barclays
• Societe Generale
• France
• United Kingdom