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GRAMMER AG — Capital/Financing Update 2011
Aug 22, 2011
186_rns_2011-08-22_81a58454-c622-4964-99cb-c5a0244dcab4.html
Capital/Financing Update
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Ad-hoc | 22 August 2011 18:26
Grammer AG: Grammer AG restructures the group’s financing
Grammer AG / Key word(s): Capital Reorganisation
22.08.2011 18:26
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to section 15 WpHG
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Amberg, 22 August 2011 - Today, Grammer AG, leader in automotive interiors
and seating systems, has issued a debenture bond in the amount of EUR 55
million. The volume is distributed across three tranches with maturities of
three, five and seven years. Simultaneously, a EUR 9.5 million tranche from
an existing promissory note loan entered early into prolongation.
Commerzbank AG and Landesbank Baden-Württemberg AG acted as arrangers for
the successful transaction.
With this transaction, and a new global credit facility amounting to EUR
78.5 million until 2014, Grammer AG is taking a proactive approach to
restructuring of the group's existing financing. The transaction also
replaces, already in September 2011, the current syndicated loan agreement
totaling EUR 110 million that was set to expire in August 2013.
The conditions of the new loan represent a significant improvement over the
existing syndicated loan agreement. Restructuring of the group's financing
serves to considerably align the maturities of its liabilities. At the same
time, Grammer AG was able to improve the terms and conditions of financing
in its favor, while expanding the creditor base. The new financing
structure thus provides Grammer AG with the necessary flexibility for
further organic and inorganic growth.
GRAMMER AG
The Executive Board
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
22.08.2011 DGAP's Distribution Services include Regulatory Announcements,
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Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of Announcement DGAP News-Service