Moody’s rates Goldstory notes B2

Moody’s Investors Service said it rated Goldstory SAS’ planned €850 million of backed sustainability-linked senior secured notes consisting of a fixed-rate and a floating-rate tranche B2. The company will also upsize its super senior revolving credit facility to €120 million from €90 million as part of this transaction.

The agency also affirmed Goldstory’s B2 corporate family rating and B2-PD probability of default rating.

The proceeds will be used to refinance €620 million of the outstanding senior secured notes, pay a dividend of €174 million and repay €30 million of vendor loans to Altamir, the majority shareholder, the rest being used to pay accrued interests and pay transaction-related fees and expenses.

The outlook is stable.

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