Stabilus S.A.: Full redemption of senior secured notes
May 11, 2015 10:20 AM
Stabilus S.A. / Key word(s): Bond
Stabilus S.A.: Full redemption of senior secured notes Bondholders will be informed about the details of the premature redemption of the outstanding senior secured notes in the form of a "Notice of Full Redemption", which will be published on May 11, 2015. The redemption of the outstanding senior notes due in 2018 will be financed by a loan comprising a total of EUR 320 million (EUR 270 million Term Loan Facility and EUR 50 million Revolving Credit Facility) that was agreed for this purpose and announced on December 19, 2014, and which will be available to the company from June 15, 2015, onwards until June 2020. Through this financing structure, Stabilus installs a long term financing structure and the interest burden of Stabilus will be reduced by around EUR 13 million per year, compared to the current interest structure. The one-time transaction costs, which include costs for the premature reimbursement of the high yield bond, will amount to approx. EUR 15 million.
2015-05-11 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. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Stabilus S.A. | |
2, rue Albert Borschette | ||
L-1246 Luxemburg | ||
Grand Duchy of Luxembourg | ||
Phone: | +352 286 770 1 | |
Fax: | +352 286 770 99 | |
E-mail: | info.lu@stabilus.com | |
Internet: | www.stabilus.com | |
ISIN: | LU1066226637 | |
WKN: | A113Q5 | |
Indices: | SDAX | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart | |
End of News | DGAP News Service |
355403 2015-05-11 |