PIERRE ET VACANCES (Paris:VAC):
1] Main events
First bond issue on the European private placement market
After the €200 million bank refinancing operation undertaken on 14 March 2016, the Pierre & Vacances-Center Parcs Group has launched a bond issue in the form of a non-listed Euro PP private placement. The €60 million bond issue is due to mature in December 2022, has a 4.25% coupon and is destined for French institutional investors. Settlement and delivery is scheduled for 19 July 2016.
The placement was managed jointly by BNP Paribas, Crédit Agricole Corporate and Investment Bank and Natixis as lead arrangers.
The Pierre & Vacances-Center Parcs Group has therefore obtained fresh financial means for stepping up its development and growth strategy. The operation also enables the Group to optimise its financial structure by staggering its debt payments and diversifying its financing sources.
Progress of projects under the framework of the partnership with HNA Tourism Group
On 4 July 2016, Pierre & Vacances-Center Parcs and HNA Tourism Group signed letters of intent to acquire three plots of land located in Jixian, Xiangcheng District and Pinghu, on which tourism resorts inspired by the Center Parcs concept are to be developed.
At the same time, the two groups signed a memorandum of understanding for distribution and marketing of the Pierre & Vacances-Center Parcs European tourism offering in China. In partnership with HNA CAISSA Touristic (network of travel agencies) and Tuniu.com (online tourism distribution platform), subsidiaries of HNA Group, 15 French Pierre & Vacances, Center Parcs and Adagio sites are to be marketed to Chinese tourists.
These agreements come under the framework of the strategic partnership signed in November 2015 between Pierre & Vacances-Center Parcs and HNA Tourism and testify to the dynamic collaboration between the two groups.
2] Q3 2015/2016 revenue
The revenue and financial indicators commented on in this press release stem from operating reporting with the presentation of joint-ventures under proportional consolidation.
Euro millions 2015/2016 2014/2015 Evolutions Evolutions
on a like-for-like basis(*)
Tourism 278.4 272.9 +2.0%
- Pierre & Vacances Tourisme 124.3 127.3 -2.4%
- Center Parcs Europe 154.1 145.6 +5.8%
o/w accommodation turnover 182.4 178.9 +2.0% +4.5%
- Pierre & Vacances Tourisme 82.5 86.2 -4.4% +0.3%
- Center Parcs Europe 99.9 92.6 +7.8% +8.5%
Property development 62.7 41.9 +49.6%
Total Q3 341.1 314.8 +8.3%
Tourism 800.1 749.1 +6.8%
- Pierre & Vacances Tourisme 375.6 371.1 +1.2%
- Center Parcs Europe 424.5 378.0 +12.3%
o/w accommodation turnover 521.5 490.1 +6.4% +3.1%
- Pierre & Vacances Tourisme 247.0 250.1 -1.2% +1.3%
- Center Parcs Europe 274.5 240.0 +14.4% +4.9%
Property development 126.5 216.4 -41.6%
Total 9 months 926.6 965.5 -4.0%
Bron en hele artikel: Business Wire