ALTANA extends?250 Million Credit Facility
(PresseBox) - The specialty chemicals company ALTANA AG has successfully adjusted and extended a syndicated line of credit in the amount of ?250 million. The credit facility can be increased at any time. It will be used for general corporate purposes and gives the company financial flexibility for the upcoming years. The facility was concluded in 2012.
The extended facility has a term of five years with extension options for a total of two additional years. The initial margin of the revolving credit facility is set at 40 basis points over EURIBOR. The documentation requirements vis-à-vis the banks were once again reduced due to the sound financial situation of ALTANA.
Seven banks participate in the syndicated loan. These banks are Commerzbank, Deutsche Bank, JP Morgan, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen, Mizuho, and UniCredit. The transaction was coordinated by Commerzbank.
Alongside the promissory note loans (German Schuldscheine) amounting to a total of ?350 million, which were successfully placed on the market in March 2012 and November 2013, the new credit line is an essential component of ALTANA AG's financing structure and helps ensure the company's flexibility for further growth in the future.
ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. ALTANA's four divisions, BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
Headquartered in Wesel/Germany, the ALTANA Group has 49 production facilities and more than 50 service and research laboratories worldwide. Throughout the Group more than 6,000 people work to ensure the worldwide success of ALTANA. In 2014, ALTANA achieved sales of about 2 billion euros. About 6 percent of sales are invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world.
www.altana.com
ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. ALTANA's four divisions, BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
Headquartered in Wesel/Germany, the ALTANA Group has 49 production facilities and more than 50 service and research laboratories worldwide. Throughout the Group more than 6,000 people work to ensure the worldwide success of ALTANA. In 2014, ALTANA achieved sales of about 2 billion euros. About 6 percent of sales are invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world.
www.altana.com
Datum: 05.08.2015 - 10:13 Uhr
Sprache: Deutsch
News-ID 411578
Anzahl Zeichen: 2625
contact information:
Town:
Wesel
Kategorie:
Financial Services & Insurance
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