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All for One Group SE — Capital/Financing Update 2013
Apr 30, 2013
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Capital/Financing Update
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Corporate | 30 April 2013 16:59
All for One Steeb AG: Promissory Note Successfully Placed
All for One Steeb AG / Key word(s): Corporate Action
30.04.2013 / 16:59
All for One Steeb AG – Promissory Note Successfully Placed
Strong demand / Volume of EUR 35 million / Syndicated loan in the amount of EUR 29 million to be fully repaid / Broader framework for additional growth / Assures favourable long-term conditions for funding the company
Filderstadt, 30 April 2013 – All for One Steeb AG has issued a promissory note for the first time in order to improve its financing structure and broaden the framework for additional growth. The debut of this funding instrument allows this leading SAP full-service provider in the German-speaking midmarket segment to benefit not only from the favourable market environment, but from the enhanced interest on the part of new institutional investors, whose attention was drawn to the company in the course of its successfully completed integration of Steeb Anwendungssysteme GmbH.
The placement, which was advised and helped launched by the Commerzbank Aktiengesellschaft, Frankfurt, and the Landesbank Baden-Württemberg, Stuttgart, was significantly oversubscribed, which is why the initially planned total volume of EUR 30 million was increased to EUR 35 million. The allocation process considered a broad base of regionally operating savings-and-loan banks ( Sparkassen ), mutual savings banks ( Genossenschaftsbanken ), as well as individual foundations, insurance companies and pension funds. A total of 23 investors from Germany and Austria were included.
The promissory note is divided into three tranches, all of which were allotted at the lower end of the price ranges. Around 2/3 of the volume is at fixed interest rates and around 1/3 at floating interest rates. The terms of these tranches are three, five and seven years. Predominantly long-term tranches were allocated. The interest rates are currently between 2.6% and 4.3%.
All for One Steeb Chief Financial Officer Stefan Land: »With this promissory note, we have secured ourselves favourable conditions for our corporate financing over the long term. The strong demand on the part of new institutional investors underscores just how attractive our business model is. The syndicated loan in the amount of EUR 29 million, which we took out in late 2011 in conjunction with the Steeb acquisition, will be fully repaid. Furthermore, this promissory note gives us greater flexibility to drive additional organic growth and acquisitions«.
About All for One Steeb AG
All for One Steeb AG ranks as one of the leading SAP full-service providers for small and medium enterprises in German-speaking countries. The SAP Gold Partner’s portfolio comprises end-to-end solutions along the whole of the IT value chain – from SAP industry solutions to outsourcing services and application management. As a one-stop-shop for all SAP-related services, All for One Steeb is a reliable general contractor for small and mid-sized enterprises. With around 800 employees, it serves over 2,000 clients among machinery and equipment manufacturers, automotive suppliers, consumer goods industry, technical wholesalers and project and engineering service providers. As a founding member of United VARs, the global network of leading SAP partners for small and mid-sized enterprises, All for One Steeb guarantees a comprehensive consulting and service portfolio as well as the best local support in more than 56 countries. All for One Steeb ranks among Germany’s best employers (Great Place to Work 2010) and the best IT consultants for the German midmarket (TOP CONSULTANT 2012/13).
In the financial year 2011/12, All for One Steeb AG achieved a turnover of EUR 153 million. The company is listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0005110001, WKN 511 000).
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Contact:
All for One Steeb AG, Dirk Sonntag, Tel. 0049 (0)711 78807-260, E-Mail [email protected]
End of Corporate News
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| Language: | English |
| Company: | All for One Steeb AG |
| Gottlieb-Manz-Straße 1 | |
| 70794 Filderstadt-Bernhausen | |
| Germany | |
| Phone: | +49 (0)711 78 807-260 |
| Fax: | +49 (0)711 78 807-222 |
| E-mail: | [email protected] |
| Internet: | www.all-for-one.com |
| ISIN: | DE0005110001 |
| WKN: | 511000 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 209239 30.04.2013 |