DGAP-News: Ströer Out-of-Home Media AG: Ströer concludes long-term Group financing
(firmenpresse) - DGAP-News: Ströer Out-of-Home Media AG / Key word(s): Corporate Action
Ströer Out-of-Home Media AG: Ströer concludes long-term Group
financing
02.08.2012 / 08:05
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PRESS RELEASE
Ströer concludes long-term Group financing
Cologne, 2 August 2012 Ströer Out-of-Home Media AG has successfully renewed
its Group financing: The financing package, which totals EUR 500m and has a
five-year term, was provided by an international banking syndicate and
refinances the existing loan facility (EUR 395m loan and EUR 63m in
revolving facilities) as well as the current subordinated loans
(approximately EUR 21m).
The Group's new financing structure comprises a term loan of EUR 275m and a
revolving credit facility of EUR 225m. The structure of the new funding
arrangements will lead to further improvements in the Group's financial
result and cash flows already in 2013. The refinancing also resulted in
more flexible credit conditions.
'Our new loan agreement has allowed us to lay the foundation for stable
long-term financing ahead of time. The timing and terms of the syndicated
loan reflect the financial market's confidence in the strength of our
business model. The revolving credit facility will enable us to roll out
growth projects and further optimize our borrowing costs,' said Alfried
Bührdel, CFO of the Ströer Group.
The Group's new financing was secured by a syndicate comprising a total of
10 banks lead-managed by Commerzbank, Crédit Agricole, BAWAG, ING, JP
Morgan and SEB and was advised by Herter&Co.
About Ströer
Ströer Out-of-Home Media AG, Cologne, together with its subsidiaries,
specializes in all forms of out-of-home advertising media, from traditional
posters and advertising at bus and tram stop shelters and on vehicles,
through to sophisticated digital out-of-home advertising media. The Group
commercializes more than 280,000 advertising faces and, with consolidated
revenue of EUR 577.1m for fiscal year 2011, is one of the leading
out-of-home advertising companies in Germany, Turkey and Poland. In terms
of revenue, Ströer is one of Europe's largest providers of out-of-home
advertising.
The acquisition of ECE flatmedia GmbH has enabled the Ströer Group to
expand its digital out-of-home media portfolio to include shopping malls.
The advertising media portfolio of the Cologne-based SDAX-listed company
thus comprises digital moving-picture networks in Germany's largest train
stations, in underground and suburban railway stations and now also in the
country's largest shopping malls.
In addition, Ströer boasts a broad offering of out-of-home advertising
products that set new standards in terms of the quality, innovation and
design of advertising media and street furniture. Ströer's street furniture
has won 27 international awards. The Ströer Group has approximately 1,700
employees at over 70 locations.
For more information on the Company, please visit www.stroeer.de.
Press contact
Claudia Fasse
Ströer Out-of-Home Media AG
Director Group Communication
Ströer Allee 1 D-50999 Cologne
Telephone: 02236 / 96 45-246
Fax: 02236 / 96 45-6246
Email: cfasse(at)stroeer.de
IR Contact:
Stefan Hütwohl
Ströer Out-of-Home Media AG
Director Group Finance and Investor Relations
Ströer Allee 1 | D-50999 Cologne, Germany
Phone: +49 (0)2236 / 96 45-338
Fax: +49 (0)2236 / 96 45-6338
E-Mail: ir(at)stroeer.de
End of Corporate News
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02.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Ströer Out-of-Home Media AG
Ströer Allee 1
50999 Köln
Germany
Phone: +49 (0)2236.96 45 0
Fax: +49 (0)2236.96 45 299
E-mail: info(at)stroeer.com
Internet: www.stroeer.de
ISIN: DE0007493991
WKN: 749399
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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179990 02.08.2012
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Datum: 02.08.2012 - 08:05 Uhr
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