Gide advises the lenders in connection with the €40 million structured financing of the Les Vergers du Sud group
Gide advised the lenders in connection with the implementation of a €40 million structured financing enabling the Les Vergers du Sud group to refinance its debt and continue its development.
In an amount of €40 million, the financing refinances approximately €30 million of existing debt, with the balance intended for the group’s growth investments and working capital requirements.
The transaction was implemented in two tranches: an amortizing tranche, coordinated by Banque Populaire Auvergne Rhône Alpes and Caisse d’Épargne Provence Alpes Corse, and a bullet tranche structured by Sienna IM, through its Biodiversity Private Credit fund, and Groupama, through its Dette Agro Agri fund, with a margin adjustment mechanism indexed to ESG criteria. The lending pool also brings together Banque Palatine, BNP Paribas, Bpifrance, Crédit Agricole Midi Pyrénées, Crédit Agricole Provence Côte d’Azur, CIC and Société Générale.
France’s leading producer of apples and yellow kiwis, the Les Vergers du Sud group, based in Les Mées (Alpes-de-Haute-Provence) and led by Didier Miollan, operates across the entire value chain, from production to marketing.
The Gide team was composed of partners Eric Cartier-Millon and Pauline Bournoville, and associates Aude Fourgassié, Jade Beriot and Eleonore Schmautz.
