27-06-2025

• TAP to finance the acquisition of Tivit and to further strengthen the structure of the debt capital and the financial resources available to support business.
• Demand was over twice the supply.
• The order book was made up of leading institutional investors.

Almaviva has launched a €350 million increase (TAP) on its existing bond, which carries a coupon of 5% and matures in October 2030. Demand was over twice the supply.

The original bond was issued at the end of October 2024 for a total amount of €725 million (5% coupon, minimum denomination €100,000) and was aimed at fully financing the acquisition of the US-based company Iteris, as well as the early repayment of the pre-existing bond issue of €350 million, originally maturing in 2026.

“Following the successful bond issue last October, we decided to launch a TAP to finance the acquisition of Tivit, a Brazilian IT company, and to further strengthen the structure of the debt capital and the financial resources to support business", explains Christian De Felice, the group’s Chief Financial Officer & Strategy Officer.

“The quality of the order book remains very high as it’s made up of the most important institutional investors, who have been consistently supporting us since 2017, the year we first entered the capital market.”

With this transaction, the group secures a fixed-rate debt structure until 2030, repayable in full at maturity, and increases its RCF (Revolving Credit Facility) from €160 million to €230 million, thus obtaining ample credit and cash resources to meet any future operational, financial, and investment needs that may arise.

“We were already in a very stable position, but with this transaction we’ve further strengthened ourselves and are able to meet any need, especially in this time of enormous geopolitical uncertainty and highly volatile financial markets," comments De Felice. “We maintain a cautious profile with the goal of reducing leverage to below 2x in the short term.”

This new strategic move, combined with the recent acquisition of Tivit, strengthens the group’s position, giving it the size and solidity of a global multinational powerhouse and delivering not only high value-added services to both the public and private sectors, but also high-tech proprietary platforms such as Moova (for the transportation and logistics sector), Velvet (Almawave's AI platform, on which the group leverages heavily), and the GIOTTO Suite (the backbone of Almaviva's digital ecosystem). These proprietary platforms confirm the Almaviva Group's outstanding technological leadership.