Atalian lifts revolving credit facility commitments by €23 million

By Sarah Lizee

Olympia, Wash., July 26 – La Financiere Atalian SCA amended and restated its secured revolving credit facility agreement on Tuesday to increase the size of the commitments by €23 million to €98 million, according to a company announcement.

The springing financial covenant was replaced by a new financial covenant requiring the company to ensure that the secured leverage ratio relating to each 12-month period ending on Dec. 31 and June 30 does not exceed 1.75 to 1.00. This covenant is tested every June 30 and Dec. 31 on a rolling 12-month basis.

In addition, the agreement limits the secured debt, including factoring financing, incurred by any member of the Atalian group to the higher of €465 million or 17.5% of the total assets of Atalian and its restricted subsidiaries.

The revolver is not currently drawn, the release said.

The company is a Paris-based provider of outsourced building services.

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