DGAP-News: Grammer renewing major credit facility ahead of schedule
(firmenpresse) - DGAP-News: Grammer AG / Key word(s): Miscellaneous
Grammer renewing major credit facility ahead of schedule
07.11.2013 / 09:29
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Grammer renewing major credit facility ahead of schedule
Five-year credit facility agreement signed
Line of credit increased by more than 60% to EUR 180 million
Amberg, November 7, 2013 - Grammer AG has placed its group finance on a
solid long-term footing with a new syndicated loan. A credit facility for
EUR 180 million has been agreed for a period of five years plus two
one-year extension options. The transaction was underwritten by six core
banks in the form of a 'club deal'.
The new line of credit ensures that the previous global loan agreement for
EUR 110 million expiring in July 2015 is refinanced well in advance. The
decision to renew the credit facility at this stage was mainly based on the
current favorable financing conditions and the company's favorable business
performance. With the signing of the new syndicated loan agreement, Grammer
AG has been able to additionally improve its maturities profile and also
secure more favorable terms.
Following the successful placement of a debenture bond in May 2013, the new
credit facility additionally enhances Grammer's financial position. In
addition to gaining favorable funding conditions, Grammer Group is
broadening the financial scope for further organic and non-organic growth.
Note: GRAMMER AG will publish its interim report on the third quarter of
2013 on Monday 11, November 2013.
Company profile
GRAMMER AG, Amberg, Germany, specializes in the development and production
of components and systems for automotive interiors as well as driver and
passenger seats for offroad vehicles (tractors, construction machinery,
forklifts). The Seating Systems division comprises the truck and offroad
seat segments as well as train and bus seating. In the Automotive division,
we supply headrests, armrests and center console systems to premium
automakers and automotive system suppliers.
Grammer is represented in 18 countries worldwide with a workforce of over
9,000 employees across its 27 fully consolidated subsidiaries. Grammer
shares are listed in the SDAX segment of the German Stock Exchange and are
traded on the Munich and Frankfurt stock exchanges via the Xetra electronic
trading platform and over the counter at the Stuttgart, Berlin and Hamburg
stock exchanges.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
investor-relations(at)grammer.com
End of Corporate News
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07.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
Germany
Phone: +49 (0)9621 66-0Fax: +49 (0)9621 66-1000
E-mail: investor-relations(at)grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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238478 07.11.2013
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Datum: 07.11.2013 - 09:29 Uhr
Sprache: Deutsch
News-ID 313740
Anzahl Zeichen: 5263
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