On June 24, 2014, Sodexo S.A. completed a bond issue structured in two tranches:
Accrued interests on these bonds amount to 9 million euro as of August 31, 2020.
On October 14, 2016 Sodexo S.A. issued bonds for 600 million euro redeemable in April 2027 and bearing interest at an annual rate of 0.75%, with interest payable annually on April 14. On August 1, 2017, the Company increased this issue with an additional 200 million euro of bonds. Accrued interests on these bonds amount 2 million euro as of August 31, 2020.
On May 22, 2018, Sodexo S.A. issued bonds for 300 million euro redeemable in May 2025 and bearing interest at an annual rate of 1.125%, with interest payable annually on May 22. Accrued interests on this bond are 1 million euro as of August 31, 2020.
On June 26, 2019, Sodexo S.A. issues bonds for 250 million pounds sterling redeemable in June 2028 and bearing interest at an annual rate of 1.75%, with interest payable annually on June 26. Accrued interests on this bond are 1 million euro as of August 31, 2020.
On April 27, 2020, Sodexo S.A. issued a bond structured in two tranches:
Accrued interest on these bonds amounted to 5 million euro as of August 31, 2020.
On July 17, 2020, Sodexo S.A. issued a bond structured in two tranches:
Accrued interest on these bonds amounted to 1 million euro as of August 31, 2020.
None of the above-described bonds are subject to financial covenant.
On July 18, 2011, Sodexo S.A. contracted a multicurrency credit facility for a maximum of 600 million euro plus 800 million U.S. dollars, with an original maturity date of July 18, 2016. This facility has been amended on a number of occasions with the most recent amendment being in July 2019 with a new maturity date of July 2024, with two options to extend the maturity by one year each, up to July 2026. The fi rst option to extend this facility was executed during Fiscal 2020. The facility maturity date is now July 2025 with the second option to extend a further year still remaining. The maximum available limits under this facility now are 589 million euro plus 785 million U.S dollars.
The most recent amendment also incorporates a sustainability clause that links the credit facility cost to Sodexo’s ability to comply with its public commitment to reduce its food waste by 50% by 2025.
Amounts drawn on this facility carry floating interest indexed on the LIBOR and EURIBOR rates. This credit facility is not subject to any covenant.
No amounts had been drawn down on the facility as of either August 31, 2020 or August 31, 2019.
On December 18, 2019, the Group obtained two 150 million euro bilateral confirmed credit facility, both are due to expire in December 2023.
On February 13, 2020, the Group obtained a third 150 million euro bilateral confirmed credit facility expiring in February 2024.
On May 20, 2020, the Group obtained a further two bilateral facilities totaling 250 million euro. One facility is a 150 million euro facility and is due to mature in May 2021 and the second facility is a 100 million euro facility that is due to mature in January 2021 with the option to extend the facility for a further 8 months.
No amounts had been drawn down on any of these facilities as of August 31, 2020.
As of August 31, 2020, borrowings under the Sodexo S.A. and Sodexo Finance commercial paper programs are nil, compared to 140 million euro as of August 31, 2019.
During Fiscal 2020, Sodexo S.A and Sodexo, Inc. redeemed the full outstanding balance of U.S. Private Placement of 1,557 million U.S. dollars subscribed between 2011 and 2018.
As per the conditions of the USPP debt agreements, the reimbursement includes an indemnity of 168 million U.S. dollars (150 million euro).
As a result of this operation, Sodexo is no longer subject to compliance with any financial covenant in respect of borrowings issued by the Group.
