Daher reimburses its loan guaranteed by the French government and secures €180 million in new funding

Daher has completed the company’s total reimbursement of the €110 million French government guaranteed loan (Prêt Garanti par l’État, PGE) granted in June 2020, while also securing funding of €180 million from new American investors and from its banking pool. These two new operations illustrate the confidence of Daher’s financial partners in the company’s management of the consequences stemming from the COVID-19 crisis – which demonstrated its strong rebound capacity – while also taking into account the strengthening of its presence in the United States.

In June 2020, Daher obtained a loan of €170 million from its historic banking pool, guaranteed by the French government. This funding made it possible to cover the company’s cash needs as well as the implementation of its transformation plan that is aimed at positioning Daher as a recognised player in its markets at the time of industry recovery.

Two years later, after having quickly and successfully carried out its restructuring plan, Daher has been able to finalise total reimbursement of the PGE loan– the initial €60 million portion of which had already been reimbursed in June 2021 – based on the good performance of its aircraft manufacturing and logistics activities following the strong resumption of global activity and the positive recovery of air traffic.

This €180 million refinancing – including €105 million in the form of a U.S. private placement with a pool of new American investors and €75 million in loans from its banking pool – illustrates the confidence that benefits Daher in terms of the company’s activities, its strategic choices and governance.

The initial amount of €150 million was oversubscribed at a total of €180 million, enabling an extension of the loan’s duration, thereby providing Daher with additional means for its strategy as a consolidator in the sector. (£1.00 = €1.17 at time of publication).

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