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NORMA Group SE — Capital/Financing Update 2011
Apr 18, 2011
311_rns_2011-04-18_e131b03a-8397-4f23-ac65-a34084cc5217.html
Capital/Financing Update
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Corporate | 18 April 2011 09:54
NORMA Group AG successfully completes refinancing of its credit facilities after IPO
NORMA Group AG / Key word(s): Miscellaneous
18.04.2011 / 09:54
NORMA Group AG successfully completes refinancing of its credit facilities
after IPO
* Increased financial flexibility due to reduced total debt and attractive
credit margin
Maintal, 18 April, 2011 - Following its successful initial public offering
(IPO), NORMA Group AG ('Norma Group'), a global market and technology
leader in engineered joining technology, has agreed to completely refinance
its credit facilities.
As a result of the IPO, the company received about EUR 147 million from the
capital increase. The net proceeds were used partially to pay off financial
liabilities. In addition, NORMA Group agreed on a comprehensive new
refinancing scheme. The credit facility consisting of a term debt of more
than EUR 250 million and a revolving credit facility of more than EUR 125
million has a total volume of EUR 375 million and a matures in five years.
The group of underwriters includes Commerzbank AG, SEB AG and Unicredit
Bank AG.
NORMA Group used EUR 250 million from the credit facility in addition to
EUR 135 million realised from the capital increase in order to fully repay
existing loans taken out in 2007. Among other debts, NORMA Group is paying
off a mezzanine credit agreement in the amount of EUR 53.5 million and the
shareholder loan of about EUR 11.9 million extended by 3i Investments plc.
'The capital increase we realised with the IPO combined with the
comprehensive refinancing of our credit facilities has enabled us to
significantly optimise our financing structure,' said Dr. Othmar Belker,
Chief Financial Officer of NORMA Group. 'We are now well positioned to take
full advantage of future growth trends in the international markets for
engineered joining technology. With our improved cost and capital base we
have established a solid foundation for sustainable, profitable growth.'
By paying off these liabilities, NORMA Group has substantially strengthened
its equity base. The company's equity ratio has risen from 13% before the
IPO to a current level of notably above 30%. Thus, NORMA Group has
significantly improved its operational flexibility. The company plans to
use the revolving credit line as part of the new financing structure for
further acquisitions and financing activities in the operational business.
In order to hedge the risk of interest rate movements, eligible hedging
instruments were applied to the overall refinancing.
Investor Relations contact
Andreas Trösch
Director Investor Relations
Email: [email protected]
Tel: +49 (0)6181 - 403 554
Press contact
Daphne Recker
Media Relations
Email: [email protected]
Tel.: +49 (0)6181 - 403 553
About NORMA Group
NORMA Group is a global market and technology leader in attractive niche
markets for engineered joining technology offering more than 35,000 high
quality products and solutions to approximately 10,000 customers in 80
countries. NORMA Group was formed in 2006 through the merger of the German
Rasmussen Group, a manufacturer of connecting and retaining elements and
fluid conveying conduits which was founded in 1949, and the Swedish ABA
Group, a European leader in engineered joining technologies. Since NORMA
Group's formation, UK-based international investor 3i Group and funds
managed by 3i have been the main shareholders with a 73 percent stake. In
2010, NORMA Group generated revenues of around EUR 490 million with
approximately 3,500 employees. The company manufactures and sells a wide
range of innovative engineered joining technology solutions in three
product categories (clamp, connect and fluid) using two distinct
ways-to-market: Engineered Joining Technology ('EJT') and Distribution
Services ('DS'). In EJT, NORMA Group provides original equipment
manufacturers with mission-critical solutions that are engineered to meet
their specific needs. In DS, NORMA Group leverages its worldwide
manufacturing and distribution network to provide high-quality standardized
products under its well known brands ABA(R), BREEZE(R), Gemi(R), NORMA(R),
R.G.RAY(R), Serflex(R), Serratub(R), TERRY(R) and Torca(R). Headquartered
in Maintal, Germany, NORMA Group operates a global network of 17
manufacturing and distribution facilities as well as ten sales and
distribution sites across Europe, the Americas and Asia Pacific.
End of Corporate News
18.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: NORMA Group AG
Edisonstr. 4
63477 Maintal
Deutschland
Phone: +49 (0)6181-403-0
Fax: +49 (0)6181-403-210
E-mail: [email protected]
Internet: www.normagroup.com
ISIN: DE000A1H8BV3
WKN: A1H8BV
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
120360 18.04.2011