18.06.2018
Heidelberger Druckmaschinen AG DE0007314007
DGAP-News: Heidelberger Druckmaschinen AG: Heidelberg optimizes capital structure - further logical step to reduce interest payments
DGAP-News: Heidelberger Druckmaschinen AG / Key word(s): Bond/Financing
Heidelberger Druckmaschinen AG: Heidelberg optimizes capital structure -
further logical step to reduce interest payments
18.06.2018 / 15:17
The issuer is solely responsible for the content of this announcement.
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- Company partially redeems existing high-yield bond running to 2022
- Around EUR55 million to be repaid from cash on hand in mid-July
- Financing structure improved: Lower annual interest means greater room for
maneuver in future
Heidelberger Druckmaschinen AG (Heidelberg) is optimizing its financing
structure. The company today decided to redeem a sum of around EUR55 million
from the current high-yield bond (with a coupon of 8 percent), which runs to
2022 and amounts to some EUR205 million. This sum will be repaid on July 18,
2018. Issued in 2015, the bond was a key element in extending the financing
structure's maturity profile at that time. The repayment is being made from
cash on hand and will have a positive impact on the financial result from
the next financial year onward.
Heidelberg is planning to reduce its financing interest by close to half to
around EUR20 million in the medium term. Having recently extended its
syndicated credit line for approximately EUR320 million to 2023, Heidelberg
will still have some EUR700 million available to invest in the digital
transformation following its planned partial redemption of the high-yield
bond.
"We're continuously working on optimizing our financing framework and
capital structure," said Heidelberg CFO Dirk Kaliebe. "We have numerous
options at our disposal for driving forward our growth strategy while also
further reducing interest costs by improving the financing framework and
choosing the appropriate options to take us into the digital future," he
added.
In accordance with the bond conditions, the repayment on July 18, 2018 will
take place by means of a publicly announced early redemption with a
redemption value, including redemption premium, of 104 percent. The notice
of redemption can also be viewed directly on the Luxembourg Stock Exchange's
website.
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
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]
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18.06.2018 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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696251 18.06.2018
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