DGAP-News: GEA Group Aktiengesellschaft: GEA optimizes financing structure
(firmenpresse) - DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Miscellaneous
GEA Group Aktiengesellschaft: GEA optimizes financing structure
24.06.2011 / 11:15
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Düsseldorf, June 24, 2011 - GEA Group Aktiengesellschaft has optimized its
financing structure by further extending maturities, improving margins, and
adding greater flexibility to redemption options. This is the result of a
new loan agreement for over EUR 90 million signed with Kreditanstalt für
Wiederaufbau (KfW) and modifications to the EUR 650 million syndicated
credit line agreed in June 2010.
The modifications to the syndicated credit line include extending the
previously three-year tranche to the final maturity of the five-year
tranche (June 2015), in addition to significantly improved margins. This
modification of the credit documentation was implemented with the agreement
of all the existing syndicate banks.
The EUR 90 million loan from KfW is a co-financing of the existing December
2009 loan agreement with the European Investment Bank and will also be used
to finance research and development expenses. GEA and KfW agreed on a
five-year term for the loan, with annual redemption payments.
'After issuing the EUR 400 million corporate bond in April, we have
undertaken further steps to optimize our financing structure with the
modifications to the syndicated credit line and the newly signed KfW loan.
The positive reactions on the credit market confirm that GEA is in a
position to finance its growth at attractive conditions,' noted Dr. Helmut
Schmale, CFO of GEA Group Aktiengesellschaft.
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
about 23,000 people worldwide as of March 31, 2011. 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). In addition GEA Group has a sponsored level
I ADR program in the USA.
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
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.geagroup.com
End of Corporate News
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Language: English
Company: GEA Group Aktiengesellschaft
Peter-Müller-Straße 12
40468 Düsseldorf
Deutschland
Phone: +49 (0)211 9136-0
Fax: +49 (0)211 9136-31087
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 News-Service
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129514 24.06.2011
Datum: 24.06.2011 - 11:15 Uhr
Sprache: Deutsch
News-ID 34459
Anzahl Zeichen: 0
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Kategorie:
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