27.01.2016
Grammer AG DE0005895403
DGAP-News: Grammer AG places debenture bonds for EUR 120 million
DGAP-News: Grammer AG / Key word(s): Miscellaneous
Grammer AG places debenture bonds for EUR 120 million
27.01.2016 / 11:14
The issuer is solely responsible for the content of this announcement.
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Grammer AG places debenture bonds for EUR 120 million
- High demand and the greater international profile of the transaction
reflecting Grammer Group's appeal to investors
- Improved terms despite volatile market conditions
Amberg, January 27, 2016 - Grammer AG has successfully issued debenture
bonds with a total value of EUR 120 million. The new debenture bonds
comprise five tranches of up to 10 years with either fixed or floating
interest rates. The high demand on the part of investors had prompted
Grammer, an automotive components supplier and global market leader in
seating systems for commercial vehicles, to increase the originally planned
volume by 60 percent.
The issue of the debenture bonds forms a systematic part of Grammer's
long-term funding strategy which, among other things, is aiming to achieve
a broader investor base and a further improvement in the maturities
structure. Accordingly, the investor base includes numerous domestic and
international financial institutions.
"With the successful placement of the new debenture bonds, we have been
able to utilize very advantageous terms to put the recent acquisition of
the Reum Group on a favorable financial footing. At the same time, we have
been able to additionally widen the scope that we already had for financing
our planned growth and future strategic investments," said Hartmut Müller,
Chief Executive Officer of Grammer AG. "The strong demand and the fact that
the new debenture bonds were substantially oversubscribed underscore the
stability of our group finance and our company's appeal to investors,"
added Gérard Cordonnier, Chief Financial Officer of Grammer AG.
Company Profile
GRAMMER AG, Amberg, Germany, specializes in the development and production
of components and systems for automotive interiors as well as driver and
passenger seats for utility and offroad vehicles. In the Automotive
Division, we supply headrests, armrests and center console systems to
premium automakers and automotive system suppliers. The Seating Systems
Division comprises the truck and offroad seat segments as well as train and
bus seats.
Grammer is represented in 20 countries worldwide with a workforce of over
12,000 employees across its 30 subsidiaries. The GRAMMER share is listed in
the SDAX and traded on the Frankfurt and Munich stock exchanges via the
electronic trading system Xetra as well as in over-the-counter trading at
the Stuttgart, Berlin and Hamburg stock exchanges.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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27.01.2016 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
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Language: English
Company: Grammer AG
Postfach 14 54
92204 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
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart
End of News DGAP News Service
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