PRESS RELEASE
May 16th, 2017
SETTING UP OF A BANK LOAN BY BPIFRANCE FINANCEMENTTO SUPPORT THE GROUP'S INTERNATIONAL GROWTH
Aix-en-Provence (France) - May 16, 2017. GEP (Alternext - FR0011289198 - ALGEP) announces the setting up by Bpifrance Financement of a medium-term loan, for an amount of € 1.2 million and a 7 years maturity.Consecutively to the recent strengthening of its equity, following the entry of MCA Finance into its capital for an amount of € 1.2 million, GEP announces it has obtained from Bpifrance Financement a specific loan for international growth (Prêt Croissance International - PCI) in the amount of € 1.204 M, with 7 years maturity and a two-year grace period on repayment of principal. This loan will contribute to the financing of the Group's international deployment.
The only guarantee associated with this financing consists of a cash collateral for an amount of € 60 K, as a pledge during the whole credit life. Thanks to the quality of its rating with the Banque de France (E3), GEP was able to obtain very attractive financing conditions, since the loan will bear a fixed interest rate of 2.29% per annum.
This is the second financing carried directly by GEP. For the record, GEP had already obtained in April 2016 a first financing of Bpifrance Financement for an amount of € 1 million.
This new loan thus brings the total amount of the Group's bank debt to € 2.2 million, compared with a level of equity of € 8.2 million at 31/12/2016 (not including the € 1.2 million capital increase subscribed by MCA Finance in 2017).
PHILIPPE PERRET, EXECUTIVE VICE PRESIDENT OF GEP:« The setting up of this loan by Bpifrance Financement demonstrates the renewed confidence of a major player in the French banking sector in the development potential of our company. We can thus finance a part of our international growth without dilutive impact for our shareholders. »
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GEP
Thierry DARIER Investor Relations
Tel.: +33 (0)4 42 245 016
contact@global-ecopower.com
…………….. ACTUS finance & communication
Vivien FERRAN Press Relations
Tel.: +33 (0)1 53 67 36 34
vferran@actus.fr
About Global EcoPower (GEP)Global EcoPower is an Aix-en-Provence based company and a "turnkey" constructor of power plants using renewable energies, wind and solar power.
GEP is listed on the Alternext Paris Market of Euronext
ISIN code: FR0011289198
Mnemo: ALGEP
GEP is eligible for PEA-PME
Global EcoPower SA published this content on 16 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2017 20:27:20 UTC.
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