Nabaltec AG / Key word(s): Miscellaneous
Nabaltec AG issues a loan against borrower's note with a volume of EUR 70.0 million
Schwandorf, 21 April 2015 - Nabaltec AG has successfully issued a loan against borrower's note with a volume of EUR 70.0 million (value date 23 April 2015), securing better conditions for the future financing of the company in the long term.
The borrower's note was issued in various tranches, with terms of 5 and 7 years, and with variable rates of interest, for which an interest hedge was also executed. Very strong investor demand enabled pricing at the lower edge of the announced marketing range for both durations. The issue was placed with twelve investors primarily from the private and state banking sector, most of whom already number among the investors in Nabaltec's first loan against borrower's note. The placement was managed by DZ BANK AG Deutsche Zentral-Genossenschaftsbank and IKB Deutsche Industriebank AG.
Issuance of the borrower's note allows Nabaltec AG to finance upcoming projects, expand its freedom of action by increasing liquidity, optimize its financing structure and improve its financial result. In this context, Nabaltec AG has opted for early termination of part of the loan against borrower's note issued in October 2013, with a volume of EUR 50.0 million, as of 23 April 2015. This relates to the portion of the loan with a variable rate of interest and durations of 5 and 7 years, for a total volume of EUR 43.5 million. Nabaltec also made early repayment of a bank loan in the amount of EUR 5.0 million on 31 March 2015.
About Nabaltec AG:
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