DGAP-News: SKW Stahl-Metallurgie Holding AG: SKW Metallurgie issues promissory note loan for EUR 45 mill.
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SKW Stahl-Metallurgie Holding AG: SKW Metallurgie issues promissory
note loan for EUR 45 mill.
06.03.2012 / 06:49
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SKW Metallurgie issues promissory note loan for EUR 45 mill.
- High demand results in increase of emission volume
- Measure intended for optimizing balance sheet structure and securing
scheduled profitable growth
Unterneukirchen (Germany), March 6, 2012. The SDAX-quoted specialty
chemicals Group SKW Metallurgie has successfully placed on the financial
markets its first-time promissory note loan for a total amount of EUR 45
million. Interest by the primarily domestic investors was huge, and the
emission was accordingly oversubscribed. Thereby, the initial emission
volume maximum in the amount of EUR 40 mill. was increased by EUR 5 million
to EUR 45 million due to high demand. The promissory note loan is being
issued in three pieces with durations of three, five, and seven years, each
with a fixed and a variable interest scheme. Due to the high interest by
the financial markets, the interest schemes were fixed at the lower end of
the offer spread. Thereby, the average interest expense in the SKW
Metallurgie Group is being lowered, since credit lines with higher interest
will be replaced. Commerzbank Aktiengesellschaft and NORD/LB Norddeutsche
Landesbank have led the transaction as bookrunners.
'Positive investor's feedback to our promissory note loan and the favorable
conditions resulting from it, have shown that the SKW Metallurgie Group
enjoys a high standing on the financial markets. By this step, we have
significantly improved our balance sheet and finance structure, and also
positioned ourselves well for our forthcoming profitable growth,' says
Group CEO Ines Kolmsee.
By the issuance of this promissory note loan, the SKW Metallurgie Group
gains access to a new finance source, improves the maturity profile of its
financial liabilities, and broadens its investor base. The amount of the
loan will on the one hand be used to re-finance existing loans, but on the
other hand will secure the necessary financial reserves for the scheduled
future growth.
Contact
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of IR and Corporate Communications
Prinzregentenstrasse 68
81675 Muenchen
Germany
Direct line IR/Press: +49 89 5998923-22
Fax: +49 89 5998923-29
E-mail: schunck(at)skw-steel.com
Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG
SKW Metallurgie is the global market leader for chemical additives for hot
metal desulphurization, and for cored wire used in secondary metallurgy.
The Group's products enable steel-makers to efficiently manufacture
high-quality steel products. Clients include the world's leading companies
in the steel industry. The SKW Metallurgie Group has more than 50 years of
metallurgical know how, and currently operates in more than 40 countries.
What is more, the Group is a leading supplier of Quab specialty chemicals,
which are mainly used in the global production of industrial starch for the
paper industry. The company's operating business is broken down into the
two core segments 'Cored Wire' and 'Powder and Granules', and the 'Other'
segment. The SKW Metallurgie Group is headquartered in Germany with
production facilities in France, the US (6), Canada, Mexico, Brazil, South
Korea, Sweden, Russia, Bhutan, the People's Republic of China (2) and India
(2 via joint venture). At the existing site in Brazil, a new production
facility nears completion.
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt
Stock Exchange's Prime Standard since December 1, 2006 with ISIN
DE000SKWM013 (since August 15, 2011: New ISIN DE000SKWM021), and have been
included in the SDAX index from June 23, 2008.
DISCLAIMER
This press release contains statements on future developments that are
based on currently available information and involve risks and
uncertainties that could cause the actual results to differ from these
forward-looking statements. These risks and uncertainties include, for
example, unpredictable changes in political and economic conditions,
particularly in the steel and paper industry, the competitive situation,
interest and currency risks, technological development as well as other
risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and
its Group companies accept no obligation to update such forward-looking
statements.
End of Corporate News
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06.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: SKW Stahl-Metallurgie Holding AG
Rathausplatz 11
84579 Unterneukirchen
Germany
Phone: +49 (0)8634 62720-15
Fax: +49 (0)8634 62720-16
E-mail: info(at)skw-steel.com
Internet: www.skw-steel.com
ISIN: DE000SKWM021
WKN: SKWM02
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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159389 06.03.2012
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Datum: 06.03.2012 - 06:49 Uhr
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