Tendam Redeems Its 2022 Notes: This transaction will result in the full, early redemption of the €300 million issuance of Floating Rate Senior Secured Notes due in 2028 completed in October 2022,” the group announced in a press release. The deal, arranged through the entity Tendam Brands, completes the 190 million euros that the company redeemed in October 2023.

There is a two-pronged approach to this atonement. First, a large injection of cash from the company’s own coffers; second, ninety million euros from a green loan with sustainability goals attached, subscribed for on March 12 and due in 2029.

After BBVA, Caixabank, Crédit Agricole, Sabadell, and Intesa Sanpaolo inked green loans for Tendam, this is the third one. “This transaction reaffirms the financial community’s confidence in Tendam’s performance,” the business stated. In addition, it said, “Using its own cash reserve, the company is also bringing forward the payment of 30 million euros on the green loan signed in July 2023.”

The most recent redemption brought Tendam’s debt cost down by 40%, and the company has saved 18.7 million euros in interest so far in 2022, according to its financial structure.

“The transaction evidences Tendam’s current strong performance and cash-generating capacity, and puts it in a strong financial position to continue to deliver on its roadmap and growth strategy,” said the company in its press release.

With intentions to go public this year, the Spanish conglomerate—owned by funds CVC and Pai—is making its way towards the stock market. Its most recent fiscal year came to an end in February, and while we wait for the full-year results to be announced, we can see that in the first nine months (March 1–November 30), total revenues were 884.3 million euros, up 5.2% from 2022 and 8.4% from 2019.