Capital/Financing Update • Mar 22, 2011
Capital/Financing Update
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Corporate | 22 March 2011 08:54
Muehlhan AG: New agreement for bond terms
Muehlhan AG / Key word(s): Alliance/Bond
22.03.2011 / 08:54
Muehlhan AG agrees to new bond terms
* Corporate bond remains most important financing tool
* Coupon adjusted to 8.02%
Hamburg, 22 March 2011 - Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7)
has reached an agreement with the corporate bond creditor and with its
primary bank on the general terms and conditions for future cooperation.
The unsatisfactory business developments in 2010 meant that, as of year-end
2010, the company was no longer in a position to fully satisfy the
covenants on the EUR 20 million bond and on the financing for its working
capital requirements. The newly signed agreement ensures the continued
cooperation. Among other things, it adjusts the bond coupon upward by 2.00%
to 8.02%.
About Muehlhan:
The Muehlhan Group is a global specialist in high-quality surface
protection and industrial services. Our business divisions - Ship
Newbuilding, Ship Repair, Energy, Industry and Other Services - enable us
to provide a broad range of professional services to our maritime and
industrial markets. The excellent quality of our service, our high degree
of organization, our technical expertise and almost 130 years of experience
are what set us apart.
With our workforce of around 2,300 employees at more than 30 locations
worldwide, we generated preliminary sales revenues of EUR 165.0 million in
2010. In the years to come, we will utilize our market position as a stable
foundation for further expanding our business.
More information at www.muehlhan.com
Press contact: Ties Kaiser, Muehlhan AG; Tel: +49 40 75271 -156 10 640,
e-mail: [email protected]
End of Corporate News
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Language: English
Company: Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Deutschland
Phone: +49 40 75271 0
Fax: +49 40 75271 130
E-mail: [email protected]
Internet: www.muehlhan.com
ISIN: DE000A0KD0F7
WKN: A0KD0F
Listed: Freiverkehr in Berlin, Hamburg, München, Stuttgart; Entry
Standard in Frankfurt
116357 22.03.2011
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