Ontex repays term loan facility and reaches agreement to extend revolving credit facility until end 2025

Press release Aalst, Belgium, June 1, 2023 – Ontex Group NV (Euronext Brussels: ONTEX) (“Ontex”), a leading developer and producer of hygienic products and solutions for retailers and healthcare, announces that it has reimbursed its €220 million euro term loan, with proceeds from its recently divested Mexican business activities. It also reached an agreement with the bank syndicate to extend its current revolving credit facility of up to €250 million, from June 2024 to December 2025. The maximum amount of the extended revolving credit facility is raised to €270 million until June 2024 and then set at €243 million until maturity. Initially, it carries a slightly higher interest rate than before the extension, similarly based on EURIBOR plus a margin. The margin is subject to the leverage ratio and equals 2.6% at a leverage of 4.0 x, which is the maximum leverage target set by Ontex for the end of 2023. The facility continues to limit dividend pay-out over its term and remains subject to covenant tests, requiring the leverage ratio not to exceed 4.25 x by the end of 2023 and to decrease further thereafter [1]. The term loan repayment and revolving credit facility extension are further steps in the execution of Ontex’s refocus strategy and continued operational and balance sheet improvement. Ontex’s main financing now consists of its €580 million 3.5% fixed rate bond, maturing in July 2026. Pdf version EnglishDutch [1] The new covenant tests, measured over the Total Group’s financials, including discontinued operations, consist of: Leverage covenant: The leverage ratio of net financial debt over the last-twelve-months adjusted EBITDA is not to exceed 5.25 x by the end of June 2023, 4.25 x by December 2023, 3.60 x by June 2024, and 3.25 x by December 2024 and June 2025. Liquidity covenant: The sum of cash & cash equivalents and the non-utilized portion of the revolving credit facility is set at minimum €215 million at the end of each quarter until June 2024, and €194 million beyond that date. UNCODE.initRow(document.getElementById("row-unique-23"));ContactInvestorsGeoffroy RaskinT: +32 53 333 730 [email protected] PressMaarten VerbanckT: +32 53 33 36 20 [email protected] UNCODE.initRow(document.getElementById("row-unique-25")); The post Ontex repays term loan facility and reaches agreement to extend revolving credit facility until end 2025 appeared first on Ontex.

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Ontex and Hygianis announce agreement for sale of Algerian business

Pdf versions translations Nederlands DutchEnglish Aalst, Belgium, August 9, 2023 – Ontex Group NV (Euronext Brussels: ONTEX) (“Ontex”), a leading developer and manufacturer of hygiene products and solutions for retailers and healthcare, announces that

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Ontex announces sale of Pakistan activities

Plant in Karachi, PakistanPdf versions translations Nederlands DutchEnglish Aalst, Belgium, September 28, 2023 – Ontex Group NV (Euronext Brussels: ONTEX) (“Ontex”), a leading developer and manufacturer of hygiene products and solutions for retailers a

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Ontex announces change of Chief Financial Officer

Press Release Pdf version EnglishDutch Aalst, Belgium, September 6, 2023 – Ontex Group NV (“Ontex” or, the “Company”), a leading international provider of personal hygiene solutions, announces today that Peter Vanneste, Chief Financial Officer at Ontex,

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Dreamshield back pocket technology for baby pants

Ontex’s DreamshieldTM technology meets consumer demand for ease of use and leakage protection  DreamshieldTM We continually improve the design, materials, and technology of our baby pants. Recent technology we introduced is the Dreamshield back

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Ontex H1 Q2 2023 results: Strong execution results in continued improvement of margin and leverage

Press release Regulated Information Pdf version English (July 28, 2023)Dutch (July 28, 2023) Ontex H1 results: Strong execution results in continued improvement of margin and leverage, leading to full year outlook raise to high end of guidance. 15% LF

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