Corporate | 21 September 2012 10:00
GEA Group Aktiengesellschaft: GEA places note loan in the amount of EUR 300m
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GEA Group Aktiengesellschaft / Key word(s): Miscellaneous
GEA places note loan in the amount of EUR 300m Düsseldorf, September 21, 2012 – GEA has succeeded in placing a borrower's note loan of EUR 300 million with a maturity of five years. The placement helps the engineering group optimize its financing structure. The note loan was placed with institutional investors from Germany and various other countries. As the order book was oversubscribed several times, the interest spread could be fixed at the lower end while the volume of the issue could even be increased. "The extraordinary demand on the part of debt investors is yet another vote of confidence in our credit standing and performance potential", commented Dr. Helmut Schmale, CFO of GEA Group Aktiengesellschaft. "With this note loan we are taking advantage of the presently positive capital market environment to further extend the maturities schedule of our financial liabilities. GEA is thus enhancing its long-term financing at favorable terms and conditions while at the same time establishing a broader lender base." The issue is split into a fixed and a variable part. Furthermore, the maturity for a part of the existent note loan of EUR 128m, due in August 2013, has been extended prematurely. Therefore, around 80 percent of GEA's financial liabilities will not become due within the next 3.5 years. DZ BANK and LBBW acted as joint bookrunners.
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| Language: | English | |
| Company: | GEA Group Aktiengesellschaft | |
| Peter-Müller-Straße 12 | ||
| 40468 Düsseldorf | ||
| Germany | ||
| Phone: | +49 (0)211 9136-0 | |
| Fax: | +49 (0)211 9136-31087 | |
| E-mail: | ir@gea.com | |
| Internet: | www.gea.com | |
| ISIN: | DE0006602006 | |
| WKN: | 660200 | |
| Indices: | MDAX | |
| Listed: | Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München; Freiverkehr in Hannover, Stuttgart | |
| End of News | DGAP News-Service |
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| 185933 21.09.2012 |