27.03.2018
Heidelberger Druckmaschinen AG DE0007314007
DGAP-News: Heidelberger Druckmaschinen AG: Heidelberg optimizes financing structure - basis for investment in future growth
DGAP-News: Heidelberger Druckmaschinen AG / Key word(s): Financing/Banking
Syndicate
Heidelberger Druckmaschinen AG: Heidelberg optimizes financing structure -
basis for investment in future growth
27.03.2018 / 10:05
The issuer is solely responsible for the content of this announcement.
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New credit line that runs till 2023 creates flexibility and long-term
planning certainty for the company's digital transformation
Aim to considerably reduce financing costs
Heidelberger Druckmaschinen AG (Heidelberg) has further optimized its
financing structure and agreed a new syndicated credit line with improved
conditions with its banking group. By taking out the credit line with a
higher total of EUR320 million and a term that runs till March 2023, the
company is creating financial flexibility and longer-term planning
certainty. Besides supporting the day-to-day operational business of the
global organization, the new credit facility underpins the strategy of
further expanding new digital business models, such as the newly established
subscription portfolio.
"This refinancing is another sign of the banks' confidence in our strategic
roadmap to a digital future," said Dirk Kaliebe, CFO of Heidelberg. "The
financial basis for our new digital technologies and business models has
been secured for the long term. We have numerous options at our disposal for
driving forward our growth strategy. At the same time, we are able to
further reduce interest costs by optimizing the financial framework."
Interest costs to be reduced to around EUR20 million
The new credit line also gives Heidelberg more flexibility to pay off a
proportion of the existing 8% bond due in 2022 ahead of time and under more
advantageous conditions. Heidelberg is planning to reduce its financing
interest by close to half to around EUR20 million in the medium term.
Further strengthening the maturity profile within the framework of the
three-pillar strategy
Due to the newly syndicated credit line, Heidelberg has further improved its
financing structure in terms of the maturity profile and conditions. The
financial framework thus consists primarily of the newly syndicated credit
line for EUR320 million that runs till March 2023, a convertible bond for
EUR59 million that runs till March 2022, a bond for EUR204 million that runs
till May 2022 but can be redeemed prematurely, and an EIB loan for EUR100
million that runs till 2024. Heidelberg has therefore agreed a financial
framework for its business development that is very solid but also flexible.
The diversified financing structure is still based on the three pillars of
credit facility, capital market, and special financing.
The broad-based banking consortium behind the credit facility comprises the
six main lenders Bank of China, BNP Paribas, Commerzbank, Deutsche Bank,
HSBC, and LBBW. Completing the consortium are DZ Bank, IKB, NIBC, and Saar
LB.
For additional details about the company and image material, please visit
the Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.
Heidelberg IR now on Twitter:
Link to the IR Twitter channel: https://twitter.com/Heidelberg_IR
On Twitter under the name: @Heidelberg_IR
Other dates:
The Annual Accounts Press Conference for 2017/18 is scheduled for June 12,
2018.
Contact:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: [email protected]
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-Mail: [email protected]
Important note:
This press release contains forward-looking statements based on assumptions
and estimations by the Management Board of Heidelberger Druckmaschinen
Aktiengesellschaft. Even though the Management Board is of the opinion that
those assumptions and estimations are realistic, the actual future
development and results may deviate substantially from these forward-looking
statements due to various factors, such as changes in the macro-economic
situation, in the exchange rates, in the interest rates and in the print
media industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no
warranty and does not assume liability for any damages in case the future
development and the projected results do not correspond with the
forward-looking statements contained in this press release.
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27.03.2018 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: Heidelberger Druckmaschinen AG
Kurfürsten-Anlage 52-60
69115 Heidelberg
Germany
Phone: +49 (0)6222 82-67121
Fax: +49 (0)6222 82-67129
E-mail: [email protected]
Internet: www.heidelberg.com
ISIN: DE0007314007
WKN: 731400
Indices: SDAX
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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669129 27.03.2018
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