DGAP-News: Grammer AG completes refinancing ahead of schedule in a demanding market environment
DGAP-News: Grammer AG
/ Key word(s): Financing/Financing
Grammer AG completes refinancing ahead of schedule in a demanding market environment "The new syndicated loan gives us substantially greater financial flexibility and forward planning visibility in the long term. The new contract reflects the banks' confidence in our business performance," explains Karsten Linke, Vice President Group Finance of the Grammer AG. The transaction has been structured as a club deal by Grammer's principal banks. The company's solid business performance in 2019 in a challenging industry environment was among other things the decisive factor for the new credit facility. By signing a new syndicated loan agreement, Grammer AG has been able to improve its maturities profile and will also benefit from more attractive borrowing costs.
Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, Grammer supplies headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to premium automakers and automotive system suppliers. The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, and forklifts) as well as train and bus seats. With over 15,500 employees, Grammer operates in 20 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra. Contact: GRAMMER AG Boris Mutius Phone: 0049 9621 66 2200 [email protected]
25.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Grammer AG |
Georg-Grammer-Str. 2 | |
92224 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 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
EQS News ID: | 982885 |
End of News | DGAP News Service |
|
982885 25.02.2020