KION Group successfully improves debt maturity profile
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KION GROUP GmbH /
KION Group successfully improves debt maturity profile
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* Amendment of senior facility agreement successfully completed
* Strong support for maturity extension of term loans to December 2017
Wiesbaden, 5 July 2012: The KION Group, one of the two leading global
manufacturers of forklift trucks and warehouse equipment, has successfully
completed the amendment and extension of its senior debt facilities. Lenders
have agreed to the commercial and technical amendments and documentary changes
which the company had proposed on 8 June 2012. The amendments will formally
become effective in the coming weeks.
KION Group has also successfully extended well in excess of ?1 billion of its
existing credit facilities. Extended credit facilities include a substantial
proportion of the revolving credit facilities from December 2013 to December
2016 and a substantial proportion of its existing term loan B and C commitments
from December 2014 (TLB) and December 2015 (TLC) to December 2017.
Harald Pinger, CFO of KION Group, commented: "I am very satisfied with the broad
support our amendment and extension offer has received among lenders. We have
significantly improved and rebalanced the maturity profile of our senior debt
facilities. This provides KION with additional long-term financial security".
The Company
The KION Group - comprising the six brands Linde, STILL, Fenwick, OM STILL,
Baoli and Voltas - is Europe's market leader in industrial trucks, the global
number two in the industry and the leading international supplier in China. The
Linde and STILL brands serve the premium segment worldwide. Fenwick is the
largest supplier of material-handling products in France, while OM STILL is a
market leader in Italy. The Baoli brand focuses on the economy segment, and
Voltas is one of the two market leaders in India. The KION Group employed
roughly 22,000 people and generated revenue of around ?4.4 billion in 2011.
Disclaimer
This press release contains forward-looking statements involving known and
unknown risks, uncertainties and other factors, many of which are outside the
control of the KION Group ('KION'), are difficult to predict and may cause
future developments to differ significantly from assumed developments as
expressed or implied in the forward-looking statements in this press release.
Any liability (including in respect of direct, indirect or consequential loss or
damage) of any member of KION with a view to the information contained in this
press release is expressly disclaimed. This press release does not purport to
contain all of the information that may be required to evaluate any proposed
transaction, and any recipient hereof should seek its own legal, accounting and
other relevant professional advice.
No member of KION undertakes any obligation or expects to update or revise this
press release, including forward-looking statements or any other information
contained herein, whether as a result of new information, future events or
otherwise.
For further information please contact
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
Email: michael.hauger(at)kiongroup.com
Download Press Release (PDF 0.1MB):
http://hugin.info/137240/R/1624292/519569.pdf
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originality of the information contained therein.
Source: KION GROUP GmbH via Thomson Reuters ONE
[HUG#1624292]
Unternehmensinformation / Kurzprofil:
Datum: 05.07.2012 - 20:08 Uhr
Sprache: Deutsch
News-ID 162791
Anzahl Zeichen: 4293
contact information:
Town:
Wiesbaden
Kategorie:
Business News
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"KION Group successfully improves debt maturity profile"
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