At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
With trusted brands that enjoy leading market positions, Adevinta operates a resilient business model at the centre of the second-hand economy at the time when consumers are seeking more sustainable and cost-efficient ways to buying products.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
At Adevinta we'll stay ahead of the curve by using innovation, curiosity and technology to develop products that help everyone and everything find new purpose.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
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Adevinta’s most important sources of debt financing are Senior Secured Notes and Term Loan B, as well as a flexible Multicurrency Revolving Credit Facility.
Immediately prior to completion of the acquisition of eCG the proceeds of the Notes of €1,060 million were released from escrow, and the Term Loan B of USD 506 million and €900 million was funded. Adevinta entered into a multicurrency revolving facility of €450 million. On 24 June 2021 the facility was drawn by €150 million.The proceeds from the Term Loan B, the multicurrency credit facility, and the Notes were used to, among other things, fund a portion of the cash consideration for the acquisition of eCG and repay existing debt. As of 30 June 2022, the Revolving Credit Facility is undrawn.
As of 30 June 2022, Adevinta’s financing structure is as follows:
Further information on the respective debt categories is found below:
Senior Secured Notes:
*The Term Loan B USD was hedged with USD floating to EUR fixed cross currency swap maturing in June 2024. Adevinta pays a fixed rate of 3.169% (30/360) at an FX rate of 1.1851.
** Margin on the Term Loan Bs is subject to a leverage based margin ratchet. Level displayed is the highest applicable margin.
The Revolving credit facility, Term Loan B and Bonds fall due in their entirety at the stated due date. The Term Loan B USD has a small quarterly repayment equivalent to 0,25% of its notional.
Debt maturity profile:
This chart includes Senior Secured Notes, Term Loan Bs and the drawn amount of the Revolving Credit Facility.
Corporate Credit Ratings:
Note: As of June 30th 2022. These credit ratings and outlook are subject to revisions at any time.