DGAP-News: TOMORROW FOCUS AG agrees refinancing deal worth EUR 36.5 million. Total of EUR 50 million available to fund continued growth.
(firmenpresse) - DGAP-News: TOMORROW FOCUS AG / Key word(s): Miscellaneous
TOMORROW FOCUS AG agrees refinancing deal worth EUR 36.5 million.
Total of EUR 50 million available to fund continued growth.
21.04.2011 / 13:53
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MEDIA RELEASE
TOMORROW FOCUS AG agrees refinancing deal worth EUR 36.5 million. Total of
EUR 50 million available to fund continued growth.
Munich, Germany, 21 April 2011 - In April, TOMORROW FOCUS AG successfully
restructured its borrowings by means of a EUR 36.5 million financing
package that included the issue of a 5-year promissory note for EUR 26.5
million. The fixed component of the loan will be subject to interest at
4.85 percent p.a. The placing of the promissory note loan was coordinated
by Landesbank Baden-Württemberg as the sole bookrunner.
As part of the early refinancing package, higher-interest loans were
replaced before maturity by longer-term financing on attractive conditions.
As a result, the company's total liabilities to banks now stand at around
EUR 43 million. Net debt currently amounts to around EUR 9 million. The
loans are unsecured, not subordinated and not subject to financial
covenants.
Overall, with operating activities continuing to deliver good results, the
TOMORROW FOCUS Group can draw on a reservoir of around EUR 40 to EUR 50
million to fund continued corporate growth.
About TOMORROW FOCUS AG:
TOMORROW FOCUS AG (ISIN DE0005495329) is one of the leading exchange-listed
Internet groups in Germany. The company is based in Munich.
The Group's business operations are divided into three divisions:
Transactions, Advertising and Technologies:
The Transactions division includes HOLIDAYCHECK, the Group's hotel rating
and holiday/travel booking portal, ELITEPARTNER, a premium online dating
portal, and JAMEDA.de, the physician rating portal.
The Advertising division includes TOMORROW FOCUS Media, one of the leading
German online marketing providers, marketing not only partner portals, such
as CHIP Online, FAZ.NET, GUTEFRAGE.NET and MEINESTADT.DE, but also the
Group's own Internet portals, such as FOCUS Online, FINANZEN100, and
JAMEDA. ADJUG LTD. is an online marketing provider for surplus advertising
space with two online market places in the UK and Germany. The company is
part of the Advertising division.
Within the Technologies division, TFT and CELLULAR provide comprehensive
services for the stationary and mobile Internet.
Media&Investor Relations contact:
TOMORROW FOCUS AG
Armin Blohmann
Neumarkter Strasse 61
81673 München
Germany
phone: +49 (0)89 9250-1256
fax: +49 (0)89 9250-2403
email: a.blohmann(at)tomorrow-focus.de
www.tomorrow-focus.de
http://twitter.com/tomorrowfocus
http://facebook.de/tomorrowfocus
http;//youtube.com/tomorrowfocus
Photo material and logos can be found in our media newsroom at
www.tomorrow-focus.de/newsroom
End of Corporate News
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21.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TOMORROW FOCUS AG
Neumarkter Str. 61
81673 München
Deutschland
Phone: +49 (0)89 9250-1256
Fax: +49 (0)89 9250-2403
E-mail: a.blohmann(at)tomorrow-focus.de
Internet: www.tomorrow-focus.de
ISIN: DE0005495329
WKN: 549532
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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121152 21.04.2011
Datum: 21.04.2011 - 13:53 Uhr
Sprache: Deutsch
News-ID 33862
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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