ALTANA AG completes?250 million credit facility
(PresseBox) - The specialty chemicals Group ALTANA AG has successfully concluded a syndicated line of credit in the amount of ?250 million. The credit facility will be used for general corporate purposes and gives the company financial flexibility for the upcoming years. Furthermore, it replaces the expiring credit facility which was established in 2007.
Seven banks participate in the syndicated loan. These banks are Commerzbank, Deutsche Bank, JP Morgan, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen, Mizuho, and UniCredit. The transaction was coordinated by Commerzbank.
The revolving credit facility has a term of five years with extension options for a total of two additional years. The initial margin is set at 65 basis points over EURIBOR.
Alongside the ?150 million German Schuldschein which was successfully placed on the market in March 2012, the new credit line is an essential component of ALTANA AG's financing structure and helps to ensure the company's flexibility for further growth in the future.
This press release contains forward-looking statements, i.e. current estimates or expectations of future events or future results. These statements are based on beliefs of ALTANA as well as assumptions made by and information currently available to ALTANA. Forward-looking statements speak only as of the date they are made. ALTANA does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made.
ALTANA develops and produces high-quality, innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel/Germany, is a genuine "global player" with about 85% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastics processors, the printing and cosmetic industries, and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments.
At present, the ALTANA Group has 41 production facilities and more than 50 service and research laboratories worldwide. Throughout the group over 5,300 people work to ensure the success of ALTANA worldwide. In 2011, ALTANA achieved sales of more than 1.6 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.
ALTANA develops and produces high-quality, innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel/Germany, is a genuine "global player" with about 85% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastics processors, the printing and cosmetic industries, and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments.
At present, the ALTANA Group has 41 production facilities and more than 50 service and research laboratories worldwide. Throughout the group over 5,300 people work to ensure the success of ALTANA worldwide. In 2011, ALTANA achieved sales of more than 1.6 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.
Datum: 17.07.2012 - 10:07 Uhr
Sprache: Deutsch
News-ID 165707
Anzahl Zeichen: 3067
contact information:
Town:
Wesel
Kategorie:
Financial Services & Insurance
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