'What?! That's ridiculous, boss!'
Ha, ha, ha! Anything is possible here, Voice. You should know that.
Anyway ...
Hello,
Oh, hello, Estelle. How are you?
Please find attached the press release regarding Vauban Infrastructure Partners' closing of the long-term refinancing of Altiservice, consisting of the global refinancing of its banking debt facilities.
Oh, okay.
Founded in 1990 as a subsidiary of Engie and acquired in 2019 by BTP Impact Local, Altiservice is a French company dedicated to the operation of ski resort concessions and cable car public transportation service. It holds concession contracts for the two largest ski resorts in the French Pyreneans, Font-Romeu Pyrénées 2000 and Saint-Lary, where it is responsible for the operation of all equipment in both the winter and summer seasons; for the design, financing, construction, operation, and maintenance of the ski lifts; for the preparation and safety of the ski areas (including snow production), and for ticketing, communication, and marketing around the ski resorts.
Okay.
Now, obviously ... our Lucky is the greatest skier since Eddie the Eagle, but ...
He can think, too!!!
'Ha!'
Come on, Lucky! Let's see you in action!
Paris February 16th 2023 Vauban Infrastructure Partners through its fund BTP Impact local announces the closing of the refinancing of Altiservice a leading independent ski resort concession and urban cable transportation operator for the extension and renewal of its current concessions Vauban Infrastructure Partners "Vauban!" is delighted to announce the closing of the long term refinancing of Altiservice the company consisting of the global refinancing of its banking debt facilities founded in 1990 as a subsidiary of Engie and acquired in 2019 by BTP Impact Local Altiservice is a French company dedicated to the operation of ski resort concessions and cable car public transportation service it holds concession contracts for the two largest ski resorts in the French Pyreneans Font Romeu Pyrénées 2000 and Saint Lary where it is responsible! for the operation of all equipment in both the winter and summer seasons for the design financing construction operation and maintenance of the ski lifts for the preparation! and safety of the ski areas including snow production and for ticketing communication and marketing around the ski resorts the company also operates and maintains industrial & public transportation assets in particular Altiservice holds both long term operation and maintenance contracts for Toulouses Téléo the largest!!! cable transportation infrastructure in France Altiservice helped to lead the testing phase of Téléo working continuously from early 2021 until its grand opening in May 2022 Altiservice is pursuing several potential similar projects which could ideally contribute to transport decarbonation initiatives finally Altiservice maintains several industrial cable car assets notably for the Société Hydro Electrique du Midi SHEM during the Thing period Altiservice finalized the extension of the Saint Lary concession until 2039 as part of a multi year investment plan to reduce the resorts carbon and environmental footprint optimize its operation maintain the highest standard of safety and increase its appeal especially during the summer season Altiservice held an inauguration ceremony for its newly built lifts in Saint Lary on January 28th 2023 Altiservice has then been off to a dynamic start of 2022 thanks to the renewal of its Font Romeu Pyrénées 2000 concession until 2047 Altiservice will similarly commit substantial investments to upgrading the resort lifts and areas over the next few years to optimize facilities from environmental comfort and performance standpoints a specific emphasis has been placed on four seasons investments geared at increasing the resort attractiveness for the general public year round overall both capital expenditure plans are set to run until 2026 and amount to a cumulated €51m these investment programs are key to the Pyrenean Mountain economy securing local employment over several decades as well as funneling people and business flows towards rural areas of the region through its positioning and the local partnerships it creates in the valleys Altiservice is a cornerstone of rural employment in the Pyreneans to fund these investments alongside equity committed by BTP Impact Local and to refinance Altiservices existing indebtedness the company raised a long term amortizing financing facility with the support of Vauban this!!! will secure liquidity for the Company while allowing it to remain agile and able to tap its growth potential in the cable car sector among other adjacent opportunities Altiservices senior financing was successfully signed on November 30th 2022 with a lending pool including Caisse dEpargne Midi Pyrénées and Crédit Agricole Pyrénées Gascogne as co arrangers as well as Crédit Agricole Sud Méditérranée Banque Populaire Sud Banque Palatine and BPI France the bank financings include €38 8m of Senior Facilities a €5 15m Debt Service Reserve Facility and a €1 3m VAT Facility in addition a €4 0m junior facility was provided by Fond Tourisme Occitanie managed by MCapital Altiservice was advised by H3P Financial Advisory as debt advisor Taylor Wessing as the borrowers legal advisor and De Pardieu Brocas Maffei as the lenders legal advisor in addition CIME Conseil Ingénierie Montagne Expertise acted as technical due diligence provider and Marsh as insurance due diligence provider Yves Rougier President of Altiservice Altiservice has been able to demonstrate its reliability for the local ecosystem through these investment programs as well as demonstrate its positioning as a key supporter of the mountain economy and local public authorities as showcased by our ESG labels the driving force! behind Altiservice and its staff remains local employment and the sustainable development of rural territories Vauban supported us in delivering these key projects for the region aligning job creation and responsible environmental management Guillaume Faroux BTP Impact Local Principal and Partner at Vauban Infrastructure Partners Altiservice has successively and successfully reached several key milestones over the last two years in an environment made challenging by the Thing the completion of this long term infrastructure based refinancing after the successful inauguration of Téléo and the renewal of both Saint Lary and Font! Romeu Pyrénées 2000 concessions is an achievement in itself and stands as testimony to the quality of Altiservices infrastructure assets portfolio and the commitment and excellence of the company staff and management who operate them under the highest standards about Altiservice Altiservice has been a private leader managing ski resort concessions in the French Pyreneans for more than 30 years today the Company operates the Saint Lary and Font! Romeu Pyrénées 2000 concessions in the French South West in addition Altiservice holds operation and maintenance contracts for the Société Hydro Electrique du Midi industrial cable car as well as Toulouses only cable car public transportation line Téléo with a secured business through its ski resorts concessions Altiservice has the ambition to capitalize on its cable based transportation knowhow through cable car lines public transportation tenders across France about Vauban Infrastructure Partners Vauban Infrastructure Partners is a leading Infrastructure Asset Manager focused on the European core infrastructure investments headquartered in Paris it employs 67 professionals who?! have been working together for a decade Vauban is the fully fledged affiliate of Natixis Investment Managers dedicated to sustainable infrastructure equity investments Vauban targets!!!
Yeah. Thanks, Lucky.
You take it easy now, son.
Laters guys
'Bye, Lucky!'
ENDS
ENDS
ENDS
Anyway ...
Anything else?
Well, I can tell you the weather news ... it's cold.
'What about the finger news, boss?'
The finger news? The fingers are still cold.
Laters.
