cierre_emision_bonos

Madrid, 6 April 2022.- Prosegur has closed the issue of notes in the euromarket announced on 28 March 2022, which was oversubscribed by 1.5 times. Accordingly, the company has today received the disbursement of the funds, maturing on 6 April 2029 (the "Bonds" and the "Issue", as the case may be).

The notes were issued at a price of 99.216% of their nominal amount and will accrue an annual coupon of 2.500% payable annually in arreas. The notes are traded on the regulated market of the Irish Stock Exchange plc (trading as Euronext Dublin).

With this issue, Prosegur extends the maturity profile of its debt and will use the proceeds to meet the company's ordinary financing needs and to refinance the bond issued in 2018.

The issue does not lead to an increase in net financial debt, which stood at €987 million at year-end 2021. The company therefore continues pursuing its conservative financial policy, favouring high cash generation and limited indebtedness with a net financial debt to EBITDA ratio of 2.3 times. Prosegur maintains a solid financial situation with an investment grade rating (BBB) and a stable outlook awarded by Standard & Poor's.

Prosegur reported sales of €3,498 million in 2021, with its solid recovery in organic growth. EBITA stood at €223 million, down 13.6%, with an EBITA margin of 6.4%. Consolidated net income, net of minority interests, remained stable at €59 million, down 0.7%.

With an operating cash flow of €270 million in 2021, Prosegur again reported an EBITDA to cash conversion ratio above its historical average, close to 80%. Favoured by a positive management of the working capital and a strict cost control policy.

Collaborating entities in the operation are: BBVA, BNP Paribas, HSBC and Santander. In addition, the law firms Clifford Chance, as advisor to Prosegur, and Allen & Overy, as advisor to the banks, have advised on the transaction.