AVENIR TELECOM (EPA:AVT) Success in renegotiating the bank loan

Transparency directive : regulatory news

07/03/2014 17:43

Press release

                   Success in renegotiating the bank loan

Marseilles, 7 March 2014. The Avenir Telecom Group, a leading designer and
distributor of accessories and connected devices, announced that it has reached
an agreement with its financial partners with a view to adjusting its financing
structure to its new stakes.

The agreement sets down the new particulars for the amortisation of the current
loans, with a two-year grace period in repayments on medium-term loans, extends
the outstanding amount on the short-term loans that the company has for two
years and releases the halfyear bank covenants for 24 months.

The success in renegotiating its bank loans allows the Avenir Telecom Group to
continue its activity in conditions that are better suited to the changes in
its economic model and to have the financial means required for its operating
projects on repositioning in the promising lowcost mobile, accessory, connected
device and electronic cigarette markets.

All of these new product ranges should contribute in substantially changing the
product mix, the level of profitability and the growth profile of the Avenir
Telecom Group in the upcoming years.

About Avenir Telecom
With revenues of EUR412 million and a gross margin of EUR109 million as at
31 March 2013, the Avenir Telecom Group (ISIN: FR0000066052 / Reuters:
AVOM.LN / Bloomberg: AVT:FP) is one of the leading European distributors of
mobile telephony products and services. The Group partners with the leading
handset manufacturers and telecom operators in Europe, distributing their
mobile phones and subscription plans across all distribution channels (multi-
brand and multi-operator stores, websites, food superstores, specialist
superstores, independent resellers and affiliated stores). The Avenir Telecom
Group also designs and distributes a comprehensive range of accessories and
multimedia products under licensed and owned brands. As at 31 March 2013,
Avenir Telecom employed almost 2,000 people, mainly in France, the UK, Spain,
Romania, Portugal and Bulgaria.
Avenir Telecom is listed on NYSE EURONEXT - compartment C (Euronext Paris). The
Avenir Telecom share is included in the CAC All Shares, CAC Mid & Small, CAC
Small, CAC All-Tradable, CAC T.Hard & Eq. and CAC Technology indices.

Next publications(1)
Event Date
Full-year 201 3-2014 revenues       14 May 2014
Full-year 201 3-2014 results       19 June 2014

Press and investor contacts

Agnès Tixier                      Tel.: +33 4 88 00 63 21
Financial Director                Fax: +33 4 88 00 60 30
                                  Email: atixier@avenir-telecom.fr

Vincent Gouley                    Tel.: +33 1 47 64 78 20
                                  Mob.: +33 6 74 79 61 87
                                  Email: vincent.gouley@watchowah.com

   All our financial information is available at www.avenir-telecom.com

(1)These dates are provided for information purposes and are liable to change
if the Company deems it necessary. Press releases will usually be distributed
after the close of the market.

AVENIR TELECOM's latest news

29/01/2015 17:49

AVENIR TELECOM (EPA:AVT) Success in renegotiating the bank loan

Transparency directive : regulatory news

AVENIR TELECOM's latest news

Other stories