GEA Group Aktiengesellschaft: GEA successfully issues EUR 400m corporate bond
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GEA Group Aktiengesellschaft: GEA successfully issues EUR 400m
corporate bond
DGAP-Media / 15.04.2011 / 11:55
GEA successfully issues EUR 400m corporate bond
Düsseldorf, April 15, 2011 - GEA Group Aktiengesellschaft successfully
placed a EUR 400 million bond on Thursday. The bond, which was issued in
EUR 1,000 denominations, has a five-year term and a fixed coupon of 4.25
percent. With a reoffer price of 99.656 percent the bond had a yield of
4.328 percent upon issuance. GEA Group Aktiengesellschaft is rated as
investment
grade at Baa3/stable by Moody's and BBB-/stable by Fitch; the bond will
also be rated by these agencies. The bond will be traded on the regulated
market of the Luxembourg Stock Exchange.
The bond was placed with both institutional investors and retail
intermediaries in Germany and other European countries. The order book was
significantly oversubscribed. In the run-up to the issue, GEA Group
Aktiengesellschaft held presentations to potential bond investors in the
course of a three-day roadshow in Munich, Frankfurt, London, and Paris. GEA
intends to use the proceeds of the issue primarily to refinance its latest
acquisitions, Convenience Food Systems (CFS) and Bock Kältemaschinen.
'The bond issue has again significantly improved GEA's debt structure,'
said Jürg Oleas, Chairman of the Executive Board of GEA Group
Aktiengesellschaft. 'The high level of interest in the bond underlines the
trust that the capital markets have in our Company. The bond secures
long-term funding at attractive conditions for GEA and at the same time
further diversifies our lender base.'
Commerzbank, Deutsche Bank, and UniCredit Bank acted as joint lead managers
of the bond placement.
GEA Group Aktiengesellschaft is one of the largest suppliers of process
technology and components for the food and energy industries. As an
international technology group, the Company focuses on sophisticated
production processes. In 2010, GEA generated consolidated revenues in
excess of EUR 4.4 billion, 70 percent of which came from the food and
energy sectors, which are long-term growth industries. The group employed
over 20,000 people worldwide as of December 31, 2010. GEA Group is a market
and technology leader in its business areas. It is listed in Germany's MDAX
stock index (G1A, WKN 660 200).
To unsubscribe from GEA Group Aktiengesellschaft's news distribution list,
please send an e-mail to pr(at)geagroup.com or call us on +49
(0)211-9136-1492.
Contact:
GEA Group Aktiengesellschaft
Tel. +49-(0)211-9136-1492
Fax +49-(0)211-9136-31087
www.geagroup.com
End of Media Release
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Language: English
Company: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Phone: +49 (0)234 980-0
Fax: +49 (0)234 980-1004
E-mail: ir(at)geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP-Media
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120157 15.04.2011
Datum: 15.04.2011 - 11:55 Uhr
Sprache: Deutsch
News-ID 33804
Anzahl Zeichen: 0
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Kategorie:
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