SAF-HOLLAND SE
SAF-HOLLAND S.A. places a EUR 200 million promissory note loan
DGAP-News: SAF-HOLLAND S.A. / Key word(s): Miscellaneous Luxembourg, November 27, 2015 – SAF-HOLLAND S.A., Europe’s largest publically listed commercial vehicle supplier, issued a EUR 200 million promissory note loan, providing the company with additional funding and greater flexibility. The proceeds from the promissory note loan give the company additional leeway to finance growth, make select acquisitions, and form joint ventures in promising markets as part of its 2020 strategy. The transaction was oversubscribed boosting the total issue volume from an originally targeted EUR 125 million to a final total of EUR 200 million. The repayment profile consists of maturities of 5, 7, and 10 years to a large extent at fixed interest rates, which allows the company to take advantage of the current low interest rate environment and finance itself at favorable interest rates for the long term. The transaction was accompanied by Commerzbank, HSBC, IKB, UniCredit. “The placement of our first promissory note loan has opened the door to a new and flexible source of financing. We are pleased with how well this offer was embraced by investors. Thus we were able to lock-in historically low interest rates for a time span of up to 10 years” commented Wilfried Trepels, CFO of SAF-Holland. The loan’s placement and the increase in the company’s credit lines to EUR 156 million have laid the groundwork for implementing the company’s 2020 strategy. This strategy envisages an increase in Group sales driven by organic growth from EUR 960 million in 2014 to approximately EUR 1,250 million by 2020 and, including external growth, to a level of roughly EUR 1,500 million. Company profile:
Contact: SAF-HOLLAND GmbH Stephan Haas Hauptstraße 26 63856 Bessenbach Phone +49 6095 301-617 Stephan.Haas@safholland.de
2015-11-27 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | SAF-HOLLAND S.A. | |
68-70, boulevard de la Pétrusse | ||
L-2320 Luxembourg | ||
Grand Duchy of Luxembourg | ||
Phone: | +49 6095 301 – 0 | |
Fax: | +49 6095 301 – 260 | |
E-mail: | info@safholland.de | |
Internet: | www.safholland.com | |
ISIN: | LU0307018795, DE000A1HA979, | |
WKN: | A0MU70, A1HA97 | |
Indices: | SDAX | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart | |
End of News | DGAP News Service |