DGAP-News: Mox Telecom AG: Financing growth - Mox successfully places Euro 19 million promissory note loan with institutional investors.
(firmenpresse) - DGAP-News: Mox Telecom AG / Key word(s): Corporate Action/Strategic
Company Decision
Mox Telecom AG: Financing growth - Mox successfully places Euro 19
million promissory note loan with institutional investors.
10.03.2011 / 08:30
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Mox Telecom AG: Financing growth - Mox successfully places Euro 19 million
promissory note loan with institutional investors.
Ratingen, Germany, 10.03.2011. Mox Telecom AG has successfully established
itself on the institutional debt market through the issue of a Euro 19
million promissory note loan (Schuldscheindarlehen). The orderbook was
closed last Thursday. Due to the strong demand from institutional
investors, the initial loan volume of Euro 15 million was increased to Euro
19 million.
The Euro 19 million loan was placed in 3 tranches with a duration of 3
years (fixed and variable interest) and 5 years (variable). The volume was
assigned at the lower end of the interest spread margin. The average
interest rate of all tranches is currently less than 4.0% in nominal terms.
The funds will be made available as early as 10/03/2011. Landesbank
Baden-Wuerttemberg (LBBW) in Stuttgart acted as arranger and sole
bookrunner of this successful transaction.
'We expected a good demand, but the positive feedback and high
over-subscription surprised us all. The promissory note was signed by top
investors and accompanied by additional operational funding (i.e.
overdrafts) .Especially the professional services provided by LBBW
contributed to the success of the project, 'commented board member and CFO,
Christoph Zwingmann the transaction. 'Mox thus achieved a significant
optimization of its debt maturity structure as well as a significant
improvement in return on equity through leverage.'
The promissory note loan ensures the further organic and inorganic growth
of Mox in the medium term. Through the issue, the planned new acquisitions,
inter alia in the U.S., are already secured, without the need for
additional capital increases.
About Mox Telecom:
The Mox Telecom Group is a global provider of international telecoms
services focused on developing needs-based telecommunication products to
facilitate low-cost, high-quality, international telephony. The company's
focus is on meeting the demands of target groups who have a requirement for
affordable, operational and user-friendly global telephony. The company,
founded in 1998, specialised early on in the development and sale of
pre-paid telecommunication services. Mox Telecom has since gone on to
establish itself as a leading provider in the market. In addition to its
main business activity, the calling card, the company has diversified,
particularly in the area of cellular telephony and, with the Mox Prepaid
MasterCard(R) (www.moxmastercard.com), into the market of cross - border
money transfer for migrants. Alongside several other European countries,
Mox, currently in its 14th year, operates successfully in the USA, Canada,
Australia, South Africa, Middle East and Southeast Asia.
IR-contact:
Mox Telecom AG
Investor Relations
Mrs. Astrid Konczak
Bahnstraße 43-45
40878 Ratingen, Germany
T: +49 (0) 2102 - 8636-11
F: +49 (0) 2102 - 8636-56
IR(at)mox.de
Stock: MOX Telecom AG - WKN: 660 580 ISIN: DE0006605801
www.mox.de.
Contact:
PR/Investor Relations
Mox Telecom AG
Bahnstr. 43 - 45
D - 40878 Ratingen, Germany
Fon 0049 2102 8636 15
Fax 0049 2102 8636 56
End of Corporate News
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10.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Mox Telecom AG
Bahnstraße 43-45
40878 Ratingen
Deutschland
Phone: +49 (0)2102 8636 - 0
Fax: +49 (0)2102 8636 - 20
E-mail: IR(at)mox.de
Internet: www.mox.de
ISIN: DE0006605801
WKN: 660580
Listed: Freiverkehr in Düsseldorf, Stuttgart; Entry Standard in
Frankfurt
End of News DGAP News-Service
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115040 10.03.2011
Datum: 10.03.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 33438
Anzahl Zeichen: 0
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