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Stabilus S.A.: Full redemption of senior secured notes

May 11, 2015 10:20 AM


Stabilus S.A. / Key word(s): Bond

2015-05-11 / 10:20



CORPORATE NEWS Luxemburg/Koblenz, May 11, 2015

Stabilus S.A.: Full redemption of senior secured notes

Luxembourg/Koblenz, May 11, 2015 - On May 11, 2015, the management board of Stabilus S.A. (Stabilus, ISIN: LU1066226637) resolved that Stabilus will exercise its contractual right to prematurely redeem all its outstanding senior secured notes with the principal amount of EUR 256,122,969.84 due in 2018. The notes will be fully and prematurely redeemed on June 16, 2015. In accordance to the terms of the bonds issued, the nominal redemption price per redeemed note will amount to EUR 103,875, equaling 103.875% of the principal amount of each EUR 100,000 note redeemed.

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.

Press Contact:
Gaby Jonethal
Tel.: +49 261 8900 502
E-Mail: gjonethal@stabilus.com

Charles Barker Corporate Communications
Tobias Eberle
+49 69 794090 24
E-Mail: Tobias.Eberle@charlesbarker.de
 
Investor Relations Contact:
Andreas Schröder
Tel.: +352 286 770 21
E-Mail: anschroeder@stabilus.com
 
   
 

 





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