EQS-News: Bike24 Holding AG: Extension of syndicated loan agreement

Bike24 Holding AG ("BIKE24" or the "Company") announce the successful extension of its existing €40 million bank facilities in collaboration with its consortium of 3 banks. The transaction was signed and closed on 10^th February 2025, marking a significant milestone in the Company's financial strategy. This extension strengthens the Company's financing structure by ensuring medium-term financial stability and enhancing operational flexibility to support its continued growth.

Following a short-term extension of its syndicated loan in March 2024, stabilising the Company's financing situation. Despite industry-wide margin pressure, BIKE24 continued the dialogue with its existing lenders and proved its ability to deliver on its business plan. As a result, the Company was able to extend its syndicated loan into a medium-term financing solution, provided by its existing lenders.

The revised financing structure provides increased operational flexibility to the Company and introduces a covenant framework better aligned with BIKE24's strategic and operational requirements.

BIKE24's founder and CEO Andrés Martin-Birner is pleased with the outcome of the transaction and stated: "We are delighted to enter the 2025 season with greater financial flexibility. This enables us to continue offering our customers the full range of products for cycling enthusiasts while driving our successful expansion into additional European markets."

Timm Armbrust, CFO of BIKE24, added: "We highly value the long-standing and trusted partnership with our existing banking consortium and look forward to continuing our collaboration. It is also gratifying to see that BIKE24's significant operational progress over the past year has been recognised and reflected."

Founded in 2002 and headquartered in Dresden, Germany, BIKE24 has grown from a specialised online retailer to one of the leading e-commerce platforms in continental Europe with focus on the premium segment. With more than 900,000 active customers and a comprehensive selection of around 77,000 products, BIKE24 is a leading one-stop shop for all cycling needs. Using its state-of-the-art AutoStore warehouse systems located in Dresden, Germany, and Barcelona, Spain, it can efficiently serve customers in over 80 countries.

Houlihan Lokey acted as exclusive financing advisor on all commercial aspects of the transaction. Despite the challenging market sentiment towards the bike sector, Houlihan Lokey supported BIKE24 on the structuring of a competitive financing solution with flexibility to support the Company's growth strategy.

Milbank served as the legal advisor to BIKE24, McDermott served as the legal advisor to lenders.