Corporate | 26 November 2015 17:46
DGAP-News: First Sensor AG / Key word(s): Financing
2015-11-26 / 17:46
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
First Sensor's shares: ISIN DE0007201907 Ι WKN (German Securities
Identification Number) 720190
Strengthening liquidity position for further implementation of growth
strategy / Early repayment of existing tranche
First Sensor AG has successfully placed a promissory note loan with a
volume of EUR28.0 million on the capital market. The new promissory note
loan replaces the variable three-year tranche of EUR19 million that had
been in place since 2013 and will provide an additional EUR9 million that
can be used to finance the company's growth strategy. The value date of the
transaction is 21 December 2015.
"This move will improve our interest structure while generating additional
funds that give us greater entrepreneurial scope to make the necessary
investments for our growth," commented Dr. Mathias Gollwitzer, CFO of First
Sensor AG. In addition, the interest rate risk was limited through fixed
interest rates and the agreement of customary market collateral mechanisms.
"We see the high level of interest in our promissory note loan as a sign of
the capital market's confidence in our Strategy 2020, which we presented
recently."
The Berlin-based sensor company originally planned to issue a promissory
note loan with a volume of EUR25 million. Following oversubscription
totaling EUR29.5 million, the final volume of the issue was EUR28.0
million.
The placement involved German institutional investors subscribing for three
tranches totaling EUR28.0 million with terms of five years (variable
interest EUR18.0 million, fixed interest EUR7.0 million) and seven years
(fixed interest EUR3.0 million). The promissory note with variable interest
is calculated on the basis of the six-month EURIBOR rate with a margin. The
other two tranches are fixed-rate. All of the margins are in line with
standard market conditions and significantly lower than the 2013 level.
Debt-to-equity and the equity ratio were defined as financial ratios. All
of the promissory note loans that are currently in place are scheduled for
repayment in either 2018 (EUR12.0 million), 2020 (EUR25.0 million) or 2022
(EUR3.0 million).
About First Sensor AG
First Sensor AG is one of the world's leading suppliers in the field of
sensor systems. Our company develops and manufactures standardized and
customized sensor solutions for applications in the Industrial, Medical and
Mobility growth markets. With over 800 employees, we are represented at six
German locations and also have development, production and sales sites in
the USA, Canada, Singapore, China, the Netherlands, Great Britain, France,
Sweden and Denmark along with a worldwide partner network. First Sensor AG
is a German public limited company and has been listed in the Prime
Standard of the German stock exchange in Frankfurt since 1999. For more
details on First Sensor, please visit first-sensor.com.
First Sensor AG
Peter-Behrens-Str. 15
12459 Berlin
Deutschland
Contact:
HCE, Sabrina Romes
T +49 30 639923-760
E first-sensor@hce.de
---------------------------------------------------------------------------
2015-11-26 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: First Sensor AG
Peter-Behrens-Straße 15
12459 Berlin
Germany
Phone: +49 (0)30 63 99 23-760
Fax: +49 (0)30 63 99 23-719
E-mail: ir@first-sensor.com
Internet: www.first-sensor.com
ISIN: DE0007201907
WKN: 720190
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service