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GRAMMER AG — Capital/Financing Update 2013
Nov 7, 2013
186_rns_2013-11-07_beb98c18-1399-4aa7-8afb-1e0af16a937e.html
Capital/Financing Update
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Corporate | 7 November 2013 09:29
Grammer renewing major credit facility ahead of schedule
Grammer AG / Key word(s): Miscellaneous
07.11.2013 / 09:29
Grammer renewing major credit facility ahead of schedule
Five-year credit facility agreement signed
Line of credit increased by more than 60% to EUR 180 million
Amberg, November 7, 2013 – Grammer AG has placed its group finance on a solid long-term footing with a new syndicated loan. A credit facility for EUR 180 million has been agreed for a period of five years plus two one-year extension options. The transaction was underwritten by six core banks in the form of a ‘club deal’.
The new line of credit ensures that the previous global loan agreement for EUR 110 million expiring in July 2015 is refinanced well in advance. The decision to renew the credit facility at this stage was mainly based on the current favorable financing conditions and the company’s favorable business performance. With the signing of the new syndicated loan agreement, Grammer AG has been able to additionally improve its maturities profile and also secure more favorable terms.
Following the successful placement of a debenture bond in May 2013, the new credit facility additionally enhances Grammer’s financial position. In addition to gaining favorable funding conditions, Grammer Group is broadening the financial scope for further organic and non-organic growth.
Note: GRAMMER AG will publish its interim report on the third quarter of 2013 on Monday 11, November 2013.
Company profile
GRAMMER AG, Amberg, Germany, specializes in the development and production of components and systems for automotive interiors as well as driver and passenger seats for offroad vehicles (tractors, construction machinery, forklifts). The Seating Systems division comprises the truck and offroad seat segments as well as train and bus seating. In the Automotive division, we supply headrests, armrests and center console systems to premium automakers and automotive system suppliers.
Grammer is represented in 18 countries worldwide with a workforce of over 9,000 employees across its 27 fully consolidated subsidiaries. Grammer shares are listed in the SDAX segment of the German Stock Exchange and are traded on the Munich and Frankfurt stock exchanges via the Xetra electronic trading platform and over the counter at the Stuttgart, Berlin and Hamburg stock exchanges.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
End of Corporate News
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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 News | DGAP News-Service |
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| 238478 07.11.2013 |