Background
As announced on 26 November 2020, the Group, its shareholders, RRJ Capital and Temasek (the “Shareholders”) and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 (the “Senior Lenders” and the “SFA”, respectively) have agreed to the key terms and conditions of a recapitalisation of the Company and amendment of the terms of the Group’s financial indebtedness (the “Transaction”).
On 11 December 2020, the Company and gategroup Finance (Luxembourg) S.A. (the “Issuer”), as issuer of the CHF 350,000,000 3% bonds due 2022 (the “Bonds”), announced that, in order to implement certain aspects of the Transaction, gategroup Guarantee Limited (the “Plan Company”), a wholly owned subsidiary of the Company, had issued a practice statement letter to holders of the Bonds (the “Bondholders”) and the Senior Lenders formally notifying them of the Plan Company’s intention to launch an English restructuring plan under Part 26A of the United Kingdom’s Companies Act 2006 (the “Plan”) which will, amongst other things, amend certain terms of the Bonds and the SFA. The practice statement letter is available by registering on the Plan Website at https://glas.agency/investor_reporting/gategroup-en/.
Information agent
GLAS Specialist Services Limited
45 Ludgate Hill
London
EC4M 7JU
Email: LM@glas.agency
Telephone: +44 (0)20 3597 2940
Media inquiries
Adrian Montague
+41 44 533 70 00
invest@gategroup.com
About gategroup
gategroup is the global leader in airline catering, retail-on-board and hospitality products and services. gategroup provides passengers with superior culinary and retail experiences, leveraging innovation and advanced technology solutions. Headquartered in Zurich, Switzerland, gategroup delivers operational excellence through the most extensive catering network in the aviation industry, serving passengers from over 200 operating units in over 60 countries/territories across all continents. For further information, please visit www.gategroup.com.