Ströer Media AG: Ströer Media AG successfully concludes early refinancing with significantly better terms and conditions

Apr 11, 2014 11:05 AM


Ströer Media AG / Key word(s): Miscellaneous

11.04.2014 / 11:05


  • Company lowers cost of capital for 2015 by more than 75 percent compared with 2010

Ströer Media AG has successfully concluded an early refinancing of existing credit facilities. The financing package, which totals EUR 500 million and has a five-year term, was significantly oversubscribed and was provided by an international banking syndicate headed up by coordinators and joint bookrunners Commerzbank and SEB and joint bookrunners Crédit Agricole, ING, Deutsche Bank and HSBC Trinkaus & Burkhardt AG. The previous syndicated loan agreement was repaid at the same time. The new financing package is being provided by long-standing partner banks as well as a number of new financial institutions.

This stable long-term funding means that Ströer Media AG is very well equipped to finance future corporate development. In particular, it will allow the company to further reduce borrowing costs - a trend that has started in past years. The company expects interest expenses in 2015 to be down by more than 75 percent as against 2010, meaning savings in the double-digit millions range. This is due to, among other things, the refinancing measures agreed since 2010, the expiry of interest rate derivatives and the general development of market interest rates. Independent financial advisory firm Herter & Co. advised Ströer on the refinancing.

"The high level of interest shown by the banks in the financing and the significant oversubscription of the volume on offer are testimony to the confidence of the financial market in our sustainable business model. The refinancing of our loans will allow us to further boost the profitability of our company and thereby create a sound basis for our future success," Udo Müller, CEO of Ströer Media AG, said.


About Ströer
Ströer Media AG is a leading provider of online advertising and out-of-home, and offers its advertising customers individualized and fully integrated premium communications solutions. In the field of digital media, Ströer is setting new standards for innovation and quality in Europe and is thus opening up new and innovative opportunities for targeted customer contact for its advertisers.

The Ströer Group commercializes several thousand websites and more than 280,000 out-of-home advertising faces. With consolidated revenue of EUR 634m for the full year 2013, Ströer Media AG is one of largest providers of out-of-home media in Europe in terms of revenue.

The Ströer Group has approximately 2,200 employees at over 70 locations.

For more information on the Company, please visit www.stroeer.com.


IR Contact:
Dafne Sanac
Ströer Media AG
Investor & Credit Relations Manager
Phone: +49 (0)2236 / 96 45-356
Fax: +49 (0)2236 / 96 45-6356
Email: ir@stroeer.de

Press contact
Ströer Media AG
Marc Sausen
Head of Group Communication
Ströer-Allee 1. 50999 Cologne
Phone: +49 (0) 2236 / 96 45-246
Fax: +49 (0) 2236 / 96 45-6246
Email: msausen@stroeer.de



 


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