presented by October France
lent to this project, means…
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Marketing surveys & consulting
Created in 1994, Kep Technologes is active in the industrial sector. The company, managed by Calzaroni Jean-pierre, has 550 employees and is based in Valbonne.
The company’s main activities are:
The company works with major players in the aeronautical, pharmaceutical and security sectors.
KEP Technologies is based in France with subsidiaires in the US, Switerland, Morocco, China and India. Half the turnover is realized outside of France.
The company requests a loan of 750 000 € over 36 months to finance commercial and industrial development in Asia and the US. This project will be realised in the next few months.
This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.
The amount offered on the platform is limited to 367 500€, which is in line with the regulatory limits.
Like all projects presented to individual lenders on Ocober, it is co-financed with institutional investors, sophisticated investors, and October management, subscribers to the October Fund.
The borrower is a holding company whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on consolidated financial statements, which reflect the group’s performance.
With a turnover of 64 975 000 € in 2017 and an experienced team, the group has a good track record combined with a strong operating margin.
The profitability increase is linked to the return on investlent achieved over the past years and the closure of a loss making subsidiary. The forecast is based on the performance of last’s year activity and linked to the ramp up of aeronautical contracts.
The group has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,13 and a good financial structure, with a forecast net debt / ebitda ratio of 4,2 and a net debt / shareholder equity of 160%, with bonds integrated as quasi equity as their maturity is after October’s loan.
The analysis of the project leads to a credit rating of C and a 7,55% annual interest rate.
*The multiple of FCCR at 1,13 means that the company has a safety margin of 13% relative to its ability to repay its credit maturities.
The expert opinion is given as an indication on the basis of the elements provided by the project holder and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.
Point of caution: