29.06.2018
JOST Werke AG DE000JST4000
DGAP-News: JOST Werke AG: JOST successfully issues its first Schuldschein loan worth EUR 150 million
DGAP-News: JOST Werke AG / Key word(s): Financing
JOST Werke AG: JOST successfully issues its first Schuldschein loan worth
EUR 150 million
29.06.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
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JOST successfully issues its first Schuldschein loan worth EUR 150 million
- Strong demand from institutional investors
- Improved conditions: lower costs, longer maturity, no covenants
- Refinancing accretive to earnings per share
Neu-Isenburg, June 29, 2018: JOST Werke AG ("JOST"), a leading global
producer and supplier of safety-critical systems for trucks and trailers,
has successfully issued its first Schuldschein loan. Due to high demand from
institutional investors, the placement was oversubscribed and the total
volume was increased from the originally targeted EUR 100 million to EUR 150
million.
JOST was able to secure an optimal combination of volumes, maturities,
financing security and costs. The group was thus able to improve its
long-term financing and extend its maturity profile at favorable conditions.
The Schuldschein loan with maturities of five and seven years provides JOST
with an attractive mix of fixed and floating interest rates without
financial covenants.
The group will use the proceeds of the Schuldschein issue to repay existing
financial debt. The new financing conditions will be accretive to earnings
per share.
In conjunction with the Schuldschein loan, JOST also increased its revolving
credit line from EUR 80 million to EUR 150 million.
"The issue of our first Schuldschein loan has been another success for JOST.
The strong results in fiscal year 2017 and in the first quarter of 2018
helped us exploit the attractive conditions on the Schuldschein market to
our benefit. The lower interest rates and the longer maturity achieved
increase our planning security. Moreover, the new revolving credit line
gives JOST more flexibility for its future growth," said Christoph Hobo,
Chief Financial Officer (CFO) of JOST Werke AG.
Lars Brorsen, Chief Executive Officer (CEO) of JOST Werke AG, commented:
"The new financing offers JOST excellent opportunities and increases our
scope of action. I believe that the trust and interest shown by investors
reflect the outstanding operational work done by JOST."
Herter & Co. as debt advisor and law firm Hengeler Mueller supported and
advised JOST in this transaction. BNP Paribas, DZ BANK AG and UniCredit Bank
AG were Joint Bookrunners for the Schuldschein loan. The revolving credit
line was provided by the Mandated Lead Arrangers BNP Paribas, Commerzbank
AG, DZ BANK AG and UniCredit Bank AG.
Contact:
JOST Werke AG
Romy Acosta
Senior Manager Investor Relations
T: +49 (0)6102 295-379
[email protected]
About JOST:
JOST is a leading global producer and supplier of safety-critical systems to
the truck and trailer industry. The Company offers branded quality products
clustered in three systems: Vehicle Interface (focusing on products required
to operate a commercial vehicle combination of trucks and trailers such as
fifth wheels and landing gears), Handling Solutions (including container
technology and hydraulic cylinders products) and Maneuvering (focusing on
truck and trailer axles and forced steering). As the number one supplier of
fifth wheels and landing gears globally, JOST is the market leader for
Vehicle Interface systems. JOST's global leadership position is driven by
the strength of its brands, by its long-standing client relationships
serviced through its global distribution network as well as by its efficient
and asset-light business model. The Company's core brands "JOST",
"Rockinger", "TRIDEC" and "Edbro" are well-recognized in the industry and
highly regarded for their quality and continuous innovation. With its global
distribution network and production facilities in thirteen countries across
five continents, JOST has direct access to all major truck and trailer
manufacturers and relevant end customers. JOST currently employs about 2,800
staff worldwide.
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29.06.2018 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: JOST Werke AG
Siemensstraße 2
63263 Neu-Isenburg
Germany
Phone: +49 6102 2950
Fax: +49 (0)6102 295-298
E-mail: [email protected]
Internet: www.jost-world.com
ISIN: DE000JST4000
WKN: JST400
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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