09.01.2017
Berentzen-Gruppe Aktiengesellschaft DE0005201602
DGAP-News: Berentzen-Gruppe Aktiengesellschaft: Berentzen-Gruppe Aktiengesellschaft secures early refinancing of its corporate bond
DGAP-News: Berentzen-Gruppe Aktiengesellschaft / Key word(s): Financing/Bond
Berentzen-Gruppe Aktiengesellschaft: Berentzen-Gruppe Aktiengesellschaft
secures early refinancing of its corporate bond
09.01.2017 / 09:45
The issuer is solely responsible for the content of this announcement.
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P R E S S R E L E A S E
No. 2/2017
Approved for immediate release
Berentzen-Gruppe Aktiengesellschaft secures early refinancing of its
corporate bond
- The Berentzen Group exploits the favourable financing environment to
replace the corporate bond (EUR 50.0 million) maturing in October 2017
by a syndicated loan arranged by Deutsche Postbank AG as consortium
leader
- After repayment of the corporate bond, the volume of borrowing was just
about halved to EUR 25.5 million in line with needs
- CFO Ralf Brühöfner anticipates a significant decrease in the annual
financing costs from autumn 2017 onwards with the associated positive
effects on cash flow and financial performance
Haselünne, 9 January 2017 - Berentzen-Gruppe Aktiengesellschaft, which is
listed on the regulated market (General Standard) of the Frankfurt Stock
Exchange (ISIN: DE0005201602), is making use of the company's strong
performance and the favourable financing environment to obtain premature
refinancing. Just under ten months prior to the repayment date of its
corporate bond (ISIN: DE000A1RE1V3), the Berentzen Group is safeguarding
its financing needs by means of a syndicated loan with a volume of EUR 25.5
million.
The corresponding financing agreement with the banking syndicate led by
Deutsche Postbank AG was signed on 21 December 2016. "I am very satisfied
with this outcome. We had shortlisted several options for our refinancing
plans. The recently signed syndicated loan with a term of five years
permits us to achieve two goals at once: the long-term security of our
financing and attractive terms", explains Ralf Brühöfner, CFO of Berentzen-
Gruppe Aktiengesellschaft.
On account of its excellent cash-flow situation, the Group only needs to
cover around half the nominal amount of the corporate bond due in October
2017 with external refinancing. The other half will be repaid from existing
own funds. The injection of cash from the 2012 bond issue was used by the
Berentzen Group to finance company acquisitions and to expand its own
business, but not all of that amount was needed. For example, the net
payment in connection with the acquisition of T M P, a specialist in fresh
juice systems based in Austria, in autumn 2014 only came to around EUR 15.5
million.
The Berentzen Group issued a corporate bond for the first time in October
2012; it had an issue volume of EUR 50.0 million and a five-year maturity.
The bond was designed for private and institutional investors alike and
paid an annual coupon of 6.5%. Thanks to the refinancing transaction that
has now been completed with a reduced volume, the Berentzen Group is
expected to be able to reduce its annual financing costs by more than two
million euros from October 2017 onwards, which is more than half. "We
anticipate a significant reduction in borrowing costs with correspondingly
significant postive effects - not only on our cash flow but, of course,
also on our financial performance and thus, ultimately, on our equity",
says CFO Ralf Brühöfner.
About the Berentzen Group:
The Berentzen Group is a broad-based beverage company operating in the
following three segments: Spirits, Non-alcoholic Beverages, and Fresh Juice
Systems. The Berentzen Group is one of the oldest producers of spirits in
Germany with a corporate history going back over 250 years. Today, it has a
presence in more than 60 countries around the world with well-known brands
like Berentzen and Puschkin and attractively priced private label products.
In its Non-alcoholic Beverages segment, the corporate group produces
mineral waters, carbonated and non-carbonated soft drinks under its own
brands and also boasts more than 50 years of experience in the franchise
business for soft drinks, currently acting as franchisee for the Sinalco
brand. In addition, the Berentzen Group markets innovative fresh juice
systems under the Citrocasa brand in its third segment, thus serving the
fast-growing market for modern, health-oriented drinks. The Berentzen-
Gruppe Aktiengesellschaft share (ISIN DE0005201602) is listed on the
regulated market (General Standard) of the Frankfurt Stock Exchange.
For more information
www.berentzen-gruppe.de
Berentzen-Gruppe Aktiengesellschaft
Antje Schwindeler
Press and PR
Tel. +49 (0)5961-502215
[email protected]
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09.01.2017 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: Berentzen-Gruppe Aktiengesellschaft
Ritterstraße 7
49740 Haselünne
Germany
Phone: +49 (0)5961 502-0
Fax: +49 (0)5961 502-550
E-mail: [email protected]
Internet: www.berentzen-gruppe.de
ISIN: DE0005201602, DE000A1RE1V3,
WKN: 520160, A1RE1V
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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