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HanseYachts AG
Capital/Financing Update • May 25, 2018
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Capital/Financing Update
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Ad-hoc | 25 May 2018 13:11
HanseYachts Aktiengesellschaft: New financing of EUR 15.0 million and early repayment of the 2014/2019 corporate bond
HanseYachts Aktiengesellschaft / Key word(s): Bond/Financing
HanseYachts Aktiengesellschaft: New financing of EUR 15.0 million and early repayment of the 2014/2019 corporate bond
25-May-2018 / 13:11 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Today, HanseYachts AG has concluded several credit agreements with banks amounting to a total volume of EUR 15.0 million, in particular in order to cover the repayment of its 8% 2014/2019 corporate bond (ISIN: DE000A11QHZ0 / WKN: A11QHZ) with a total nominal amount of EUR 13.0 million. Consequently the Management Board of HanseYachts AG today also resolved to redeem the 2014/2019 corporate bond in full early. In accordance with the bond terms the redemption is subject to a notice period of at least 30 days and no more than 90 days, and so is expected to be effective as of 06 July 2018. At this date, an amount of 102% of the nominal value of the 8% 2014/2019 bonds plus the interest incurred until 06 July 2018 will be repaid early in full to the bond holders. The company will release a corresponding announcement in the Federal Gazette “Bundesanzeiger” soon.
The aim of redeeming the corporate bond early is to further optimize the financing structure of HanseYachts AG given the considerably more favourable interest rate of 3.1% compared to the corporate bond.
The non-recurring expenses of approximately EUR 0.3 million resulting from the transaction and the early repayment will affect net income for the 2017/2018 financial year. For the following financial year (2018/2019) we expect interest savings of approximately EUR 0.7 million.
HanseYachts AG
The Management Board
End of report
Further information, comprehensive image material, specifications and much more can be found on our website under the press section of HanseYachts Aktiengesellschaft. Please visit the press section of our website at: www.hansegroup.com.
25-May-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | HanseYachts Aktiengesellschaft |
| Ladebower Chaussee 11 | |
| 17493 Greifswald | |
| Germany | |
| Phone: | +49 (0)3834-5792-20 |
| Fax: | +49 (0)3834-5792-81 |
| E-mail: | [email protected] |
| Internet: | www.hansegroup.com |
| ISIN: | DE000A0KF6M8, DE000A11QHZ0, DE000A1X3GL4 |
| WKN: | A0KF6M, A11QHZ, A1X3GL |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart |
| End of Announcement | DGAP News Service |