Global Blue Announces Amendment to Loan Agreement

Rhea-AI Summary

Global Blue Group Holding AG (NYSE: GB) announced an amendment to a $75 million liquidity facility with SL Globetrotter, L.P., extending its availability to July 8, 2022. This facility aims to support the company's working capital needs amidst a resurgence in travel and shopping due to easing COVID-19 restrictions. The company anticipates utilizing the facility in the coming months to enhance operational capacity as international shopping increases.

Positive

• Amendment extends $75 million liquidity facility to July 8, 2022.
• Liquidity facility supports working capital amid increasing international travel and shopping.

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• None.

EYSINS, Switzerland--(BUSINESS WIRE)-- Global Blue Group Holding AG (NYSE: GB and GB.WS) today announced that, effective March 29, 2022, the existing $75 million supplemental liquidity facility that SL Globetrotter, L.P., and Global Blue Holding L.P. made available to Global Blue Group Holding AG on the terms and conditions of a loan agreement dated September 30, 2020, as amended, was further amended pursuant to a Letter Amendment to the Agreement. The Amendment provides for an extension to the availability period for the facility under the Amended Agreement to July 8, 2022.

The proceeds of the liquidity facility are intended to fund the working capital needs of the Global Blue Group. Given the ongoing relaxation of COVID-19 related sanitary restrictions and consequential increase in travel and international shopping in many countries, Global Blue expects it will draw down on some or all of the liquidity facility within the coming months.

A copy of the Amendment can be obtained from the Securities and Exchange Commission’s website at www.sec.gov or the investor section of the Company’s website at Global Blue Group Holding AG - Investor Relations.

ABOUT GLOBAL BLUE

Global Blue offers innovative solutions in three different fields:

• Tax Free Shopping: Helping retailers at over 300,000 points of sale to efficiently manage 35 million Tax Free Shopping transactions a year, thanks to its fully integrated in-house technology platform. Meanwhile, its industry-leading digital Tax Free shopper solutions create a better, more seamless customer experience
• Payments services: Providing a full suite of foreign exchange and Payments technology solutions that allow acquirers, hotels and retailers to offer value-added services and improve the customer experience during 31 million payment transactions a year at 130,000 points of interaction
• Complementary RetailTech: Offering new technology solutions to retailers, including digital receipts and eCommerce returns, that can be easily integrated with their core systems and allow them to optimise and digitalise their processes throughout the omni-channel customer journey, both in-store and online

In addition, our data and advisory services offer a strategic advisory to help retailers identify opportunities for growth, while our shopper experience and engagement solutions provide data-driven solutions to increase footfall, convert footfall to revenue and enhance performance.

Pre-pandemic figures FY 2019-20.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220330005514/en/

FOR FURTHER INFORMATION

Frances Gibbons, Head of Investor Relations

+44 (0) 7815 034 212

fgibbons@globalblue.com

Source: Global Blue

FAQ

What is the significance of Global Blue's $75 million liquidity facility amendment for investors?

The amendment extends the availability period of the liquidity facility to July 8, 2022, providing necessary funds for working capital as international shopping increases.

When does Global Blue expect to utilize the liquidity facility?

Global Blue expects to draw on the liquidity facility within the coming months as travel and international shopping activity rises.

How will the liquidity facility affect Global Blue's business operations?

The liquidity facility will support Global Blue's working capital needs, facilitating operations during the recovery from COVID-19 restrictions.