R. STAHL signs a new syndicated loan agreement for a volume of up to €95 million with a term of up to five years
PRESS RELEASE Waldenburg, 16 December 2019 - R. STAHL, leading supplier of products and systems for explosion protection, signed a new syndicated loan agreement to finance the group. This comprises a volume of €70 million with the possibility to be increased by a further €25 million and has an initial term of three years with the possibility of an extension for up to two more years. "R. STAHL's significantly improved earnings and financial position in the past two years is rewarded by our banking partners. With the conclusion of the new syndicated loan agreement, we are reducing our costs of debt compared to the previous conditions to the current low market level. At the same time, we secure the long-term financing of the Group and create the necessary scope to shape the profitable growth that we want to achieve in the future", said Dr. Mathias Hallmann, CEO of R. STAHL. The syndicate of the new agreement includes Deutsche Bank, Commerzbank, UniCredit Bank and BNP Paribas. The previous syndicated loan agreement, which was concluded in 2015 for five years, would have run until September 2020 and most recently included a cash line of €65 million and an expansion option of €25 million, is expected to be prematurely replaced in January 2020 once the contractual requirements are met. As in the case of the previous syndicated loan agreement, the new agreement is linked to compliance with certain key figures.
End of Media Release Issuer: R. Stahl AG Key word(s): Enterprise
16.12.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | R. Stahl AG |
Am Bahnhof 30 | |
74638 Waldenburg | |
Germany | |
Phone: | +49 (7942) 943-0 |
Fax: | +49 (7942) 943-4333 |
E-mail: | [email protected] |
Internet: | www.r-stahl.com |
ISIN: | DE000A1PHBB5 |
WKN: | A1PHBB |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 937493 |
End of News | DGAP Media |
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937493 16.12.2019
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