Sodexo: reimburses USPP debt
(CercleFinance.com) - Following discussions with USPP debt holders, notes that were put in place between 2011 and 2018, Sodexo announces that it has decided to exercise its right to reimburse its 1.
6 billion dollar outstanding debt to ensure independence of action.
The services group will therefore reduce future financial costs by 198 million euros, including 52 million euros in 2021. The average cost of debt will now fall to around 1.2%, compared with 2.3% at the end of H1 2019-20.
The company intends to make this reimbursement before the year end. "Sodexo will have no covenants and will retain full agility to navigate in these uncertain times".
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