21.02.2017
KION GROUP AG DE000KGX8881
DGAP-News: KION Group successfully issues promissory notes (Schuldschein) with a volume of around EUR1 billion
DGAP-News: KION GROUP AG / Key word(s): Financing
KION Group successfully issues promissory notes (Schuldschein) with a volume
of around EUR1 billion (news with additional features)
21.02.2017 / 08:59
The issuer is solely responsible for the content of this announcement.
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- Proceeds of EUR958 million for refinancing the Dematic acquisition
- Maturity periods of five, seven, and ten years; fixed and floating-rate
coupons
- CFO Toepfer: "We have made full use of the favorable interest rate
environment and significantly improved the maturity profile of our
financing"
Wiesbaden, February 21, 2017 - The KION Group has successfully issued its
first promissory notes. The proceeds of around EUR1 billion are used for
the refinancing of the bridge loan that the Company had obtained from its
core group of banks for the acquisition of Dematic, a specialist in
automation and supply chain optimization. The promissory notes, which have
a volume of EUR958 million, are divided into tranches with maturities of
five, seven, and ten years with fixed and floating-rate coupons.
"By issuing the promissory notes very soon after the acquisition of
Dematic, we have made full use of the favorable interest rate environment
in order to refinance a substantial part of the acquisition financing,"
said the KION Group's Chief Financial Officer, Thomas Toepfer. "By issuing
the promissory notes in an attractive market environment and thereby also
significantly extending the maturity profile of KION's financing, the KION
Group again demonstrates its conservative financing policy."
The KION Group initially financed the purchase of Dematic with a bridge
loan of EUR3 billion. This was then reduced by the gross proceeds of
approximately EUR459 million from a capital increase in July 2016.
The acquisition of Dematic has made the KION Group a leading global
provider of supply chain solutions with a unique and comprehensive
portfolio of products ranging from forklift trucks to fully automated
material handling systems. The Group is therefore ideally positioned to
benefit from the attractive and profitable growth that is being driven by
megatrends such as Industry 4.0, digitalization, and e-commerce.
Website: kiongroup.com/mediasite
Twitter: @kion_group
The Company
The KION Group is a global leader in industrial trucks, related services,
and supply chain solutions. Across more than 100 countries worldwide, the
KION Group designs, builds and supports logistics solutions that optimize
material and information flow within factories, warehouses and distribution
centres. The company is the largest manufacturer of industrial trucks in
Europe, the second-largest producer of forklifts globally, and a leading
provider of warehouse automation.
The KION Group's world-renowned brands are clear industry leaders. Dematic,
the newest addition to the KION Group, is a global leader in automated
material handling providing a comprehensive range of intelligent supply
chain and automation solutions. Egemin Automation is a leading logistics
automation specialist with a particular strength in AGVs. The Linde and
STILL brands serve the premium industrial truck segment. Baoli focuses on
industrial trucks in the economy segment. Among its regional industrial
truck brands, Fenwick is the largest supplier of material handling products
in France, OM STILL is a market leader in Italy, and Voltas is a leading
provider of industrial trucks in India.
With a global installed base of more than 1.2 million industrial trucks and
over 6,000 installed systems, KION Group's customer base includes companies
in all industries and of all sizes on six continents. The company's 30,000
dedicated and highly skilled employees generated more than EUR6.7 billion
in pro-forma revenue for the calendar year 2015.
Disclaimer
This document and the information contained herein are for information
purposes only and do not constitute a prospectus or an offer to sell or a
solicitation of an offer to buy any securities in the United States or in
any other jurisdiction.
This release contains forward-looking statements that are subject to
various risks and uncertainties. Future results could differ materially
from those described in these forward-looking statements due to certain
factors, e.g. changes in business, economic and competitive conditions,
regulatory reforms, results of technical studies, foreign exchange rate
fluctuations, uncertainties in litigation or investigative proceedings, and
the availability of financing. We do not undertake any responsibility to
update the forward-looking statements in this release.
Further information for the media
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
Mobile: +49 (0)151 16 86 55 50
[email protected]
Frank Brandmaier
Head of Corporate Media Relations
Tel.: +49 (0)611 770 752
[email protected]
Further information for investors
Dr Karoline Jung-Senssfelder
Head of Investor Relations and M&A
Tel.: +49 (0)611 770 450
[email protected]
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=WCNOHFUTJV
Document title: Download press release as PDF
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21.02.2017 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.
Archive at www.dgap.de
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Language: English
Company: KION GROUP AG
Abraham-Lincoln-Str. 21
65189 Wiesbaden
Germany
Phone: +49 (0)611 770-0
Fax: +49 (0)611 770-690
E-mail: [email protected]
Internet: www.kiongroup.com
ISIN: DE000KGX8881
WKN: KGX888
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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545999 21.02.2017
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