DGAP-News: freenet AG secures favourable refinancing terms early on
(firmenpresse) - DGAP-News: freenet AG / Key word(s): Miscellaneous
freenet AG secures favourable refinancing terms early on
10.12.2013 / 18:40
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- Provision of a new revolving credit line of 300 million euros on
'investment-grade terms' for a period of five years
- Refinancing serves general business purposes
- Measure ensures the refinancing of the bond due in 2016; simultaneous
repayment of the syndicated credit facility expiring at the end of
Q1/2014
Büdelsdorf, 10 December 2013 - freenet AG today signed a new syndicated
loan agreement to refinance its general business activities. Commerzbank AG
again was the coordinating mandated lead arranger. Bayerische Landesbank,
HSH Nordbank, Landesbank Baden-Württemberg, Nord LB and UniCredit also
served as mandated lead arrangers.
On the one hand, this will be used to repay the current credit line of
initially 240 million euros, which comes due in 2014, and on the other it
provides an early safeguard to ensure that the company is able to repay the
400 million euro bond expiring in 2016. The newly agreed credit line allows
for a total of 300 million euros to be drawn down at EURIBOR plus a margin
that amounts to 0.95 percent at the company's current debt ratio (net
debt/EBITDA).
'With the new, improved overall terms at 'investment grade level' we have
already ensured the repayment of the corporate bond due in April 2016 with
the new credit line and the bonded loan issued in December 2012,' says
Joachim Preisig, Chief Financial Officer of freenet AG.
The new agreement is based on the usual market guarantees and duties
regarding disclosure and conduct. The financial covenants specified are a
maximum debt factor of 2.5x and an equity ratio of at least 30 percent.
End of Corporate News
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10.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: freenet AG
Hollerstraße 126
24782 Büdelsdorf
Germany
Phone: +49 (0)40 51306-778
Fax: +49 (0)40 51306-970
E-mail: ir(at)freenet.ag
Internet: www.freenet-group.de
ISIN: DE000A0Z2ZZ5, DE000A1KQXU0
WKN: A0Z2ZZ , A1KQXU
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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244120 10.12.2013
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Datum: 10.12.2013 - 18:40 Uhr
Sprache: Deutsch
News-ID 323131
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