€12.9 M IN EXCEPTIONAL ASSISTANCE FROM THE LFP
Lyon, 23 June 2020
Olympique Lyonnais has obtained preliminary approval from its bank and bond lenders to implement a €92.6 million government-guaranteed loan, with a maturity of 12 months, after which a 1-5 year amortisation option may be activated.
The legal documentation is being drafted and could be signed during the month of July, provided all of the conditions precedent are met. The funds would be made available after the closing.
At the same time, the French professional football league (LFP) has been granted a €224.5 million government-guaranteed loan to enable clubs to receive exceptional assistance equal to the balance of unpaid media rights from broadcasters Canal+ and BeIN. As Olympique Lyonnais received €7.6 million in remaining Ligue 1 media rights (domestic and international) during the fourth quarter of the financial year, the club will receive €12.9 million of exceptional assistance under the LFP's government-guaranteed loan.
These sources of financing strengthen the Group's available cash in the context of the current Covid-19-related crisis and will give the Group the flexibility it needs to plan for future developments with serenity.
Next press release: Revenue for the 2019/20 financial year on 23 July 2020, after the close of Euronext markets (the publication has been postponed for two days because of the current situation.)
Tel.: +33 4 81 07 55 00
Fax: +33 4 81 07 45 65
Euronext Paris - Segment B
Indices: CAC Small - CAC Mid & Small - CAC All-Tradable - CAC All-Share – CAC Consumer Services –
ISIN code: FR0010428771
Bloomberg: OLG FP
ICB: 5755 Recreational services
- other releases
Full and original press release in PDF: https://www.actusnews.com/news/63958-olg-230620-pre-accord-pge-gb.pdf