Autogrill strikes €300 million financing deal

ITALY. Travel food services group Autogrill has struck a five-year loan agreement worth €300 million with a pool of leading banks to help it through the COVID-19 crisis.

The company said it would use the additional liquidity to finance labour costs, investments, working capital and the payment of rents related to production facilities and business activities in Italy.

The banking partners include UniCredit, Intesa Sanpaolo, Banco BPM, Banca Nazionale del Lavoro, Crédit Agricole Corporate and Investment Bank, Milan Branch, Mediobanca – Banca di Credito Finanziario and Unione di Banche Italiane. It is backed by SACE S.p.A, the Italian export credit agency.

Against the challenging backdrop of COVID-19, Autogrill has extended or won some key F&B contracts, including at Amsterdam Airport Schiphol (pictured) to 2036

As reported earlier this week, Autogrill has struck a deal to sell its Spanish operations – managed through Autogrill Iberia Slu – to F&B and travel retail group Areas.

Group revenue fell by -55.7% year-on-year in the first eight months, as previously reported.

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