Moody’s rates Ingenico loan B2

Moody's Investors Service said it assigned a B2 instrument rating to the planned €1.1 billion senior secured term loan B2 due 2030 to be issued by Poseidon BidCo SAS (Ingenico).

The new loan together with €100 million of cash from the company's balance sheet, are expected to be used to refinance the company's €1.05 billion senior secured term loan B due 2028, also rated B2, pay about €100 million of cash dividends to shareholders and cover transaction costs.

Ingenico also plans to upsize its revolver by up to €50 million as part of the proposed refinancing.

The outlook is stable.

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