Ströer SE & Co. KGaA: Ströer scores new syndicated credit facility, improves conditions and increases flexibility for further business development (news with additional features)
Dec 22, 2016 10:30 AM
DGAP-News: Ströer SE & Co. KGaA / Key word(s): Miscellaneous/Miscellaneous
Ströer scores new syndicated credit facility, improves conditions and increases flexibility for further business development In light of its solid business performance and improved credit rating, Ströer increased its credit facility by an additional EUR 120m, up from EUR 480m under the old agreement to EUR 600m and also further improved its conditions. Ströer expects to see a long-term reduction in financing costs of around EUR 1m per year. Ströer also has the option to increase the loan volume by an additional EUR 100m, if required. Also this time the intended volume was significantly oversubscribed. The syndicated credit facility covers a five-year period with the option of extending it by an additional two years. The documentation was adjusted to reflect the investment grade status of the Ströer Group. "We are very pleased to have successfully utilized the favorable market conditions for the purpose of increasing our long-term financial headroom and adjusting the documentation to an investment-grade company," commented CFO Dr. Bernd Metzner. About Ströer The Ströer Group commercializes and operates several thousand websites in German-speaking countries in particular and operates approximately 300,000 advertising media in the out-of-home segment. It has approximately 4,100 employees at over 70 locations. In fiscal year 2015, Ströer SE generated revenue of EUR 824m. Ströer SE & Co. KGaA is listed in Deutsche Börse's MDAX. Contact: Press contact: Marc Sausen Ströer SE & Co. KGaA Director Corporate Communications Ströer-Allee 1 | D-50999 Cologne Telephone: +49 (0)2236 - 96 45-246 Fax: +49 (0)2236 - 96 45-6246 E-Mail: info@stroeer.de IR Contact: Dafne Sanac Ströer SE & Co. KGaA Head of Investor Relations Ströer-Allee 1 | D-50999 Cologne Phone: +49 (0)2236 / 96 45-356 Fax: +49 (0)2236 / 96 45-6356 E-Mail: dsanac@stroeer.de Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=JHLHLEQKOU Document title: Ströer scores new syndicated credit facility, improves conditions and increases flexibility for further business development
22.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Ströer SE & Co. KGaA |
Ströer Allee 1 | |
50999 Köln | |
Germany | |
Phone: | +49 (0)2236.96 45 0 |
Fax: | +49 (0)2236.96 45 299 |
E-mail: | info@stroeer.com |
Internet: | www.stroeer.de |
ISIN: | DE0007493991 |
WKN: | 749399 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |