DGAP-Media: GEA Group Aktiengesellschaft: GEA secures long-term refinancing
(firmenpresse) - GEA Group Aktiengesellschaft / Enterprise
15.06.2010 10:10
Dissemination of a Media Release, transmitted by
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Bochum, June 15, 2010 - GEA Group Aktiengesellschaft has successfully
renegotiated maturities of its long-term debt. A syndicated credit line
('club deal') of EUR 230 million from March 2009, previously due in 2011,
has now been extended to a volume of EUR 650 million, with the first half
coming due in 2013 and the second half not before 2015. Interest rates for
this club deal were set at the lower range. In addition, the borrower's
note loan of EUR 200 million from 2008 has been increased to EUR 220
million and the maturity of a portion of EUR 128 million has now been
extended to August 2013.
'Following our credit agreement with the European Investment Bank at the
end of last year, this recent extension of maturities and volumes of our
debt facilities represents a further major step towards safeguarding our
solid financing base,' said CFO Dr. Helmut Schmale. 'These extensions give
us a high degree of financial flexibility and answer any refinancing
questions which the previous 2011 maturities entailed. The willingness of
our partner banks and investors to extend their commitments underlines
GEA's strong position in the capital markets.'
GEA Group Aktiengesellschaft is one of the largest system providers for
food and energy processes with about EUR 4.4 billion in 2009 revenue. As an
internationally operating technology group, the company focuses on process
technology and components for demanding production processes in various end
markets. The group gains about 70 percent of its revenue in the long-term
growing food and energy industries. The company's workforce comprised over
20,000 employees worldwide as of December 31, 2009. GEA Group is a market
and technology leader in its business areas. The company is listed in the
MDAX index (G1A, WKN 660200).
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(0)234-980-1081.
15.06.2010 10:10 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Internet: www.geagroup.com
End of News DGAP-Media
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Datum: 15.06.2010 - 10:10 Uhr
Sprache: Deutsch
News-ID 22406
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Kategorie:
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