Signing of a new credit line of € 150 million
- Eight-year term at 1.22% interest p.a. (95% fixed and 5% variable interest)
- Significant reduction of financing costs through step-by-step reorientation of Group financing
Vienna, December 15, 2016 – Wienerberger today communicated the signing of a new loan in the amount of € 150 million. Taken out for a term of eight years at an all in interest rate of 1.22% p.a. (95% fixed and 5% variable interest), the loan is available for general corporate purposes. The club deal was implemented with five long-standing partner banks of the Wienerberger Group, refinanced by Oesterreichische Kontrollbank AG: Raiffeisen Bank International AG acting as the coordinating mandated lead arranger and as facility agent, Erste Group Bank AG, KBC Bank N.V., SEB AG and Unicredit Bank Austria AG.
Step-by-step reorientation of Group financing
Heimo Scheuch, CEO of Wienerberger AG, is highly satisfied:
“This new loan is yet another step in the gradual reorientation of the Group’s financing structure. The extremely attractive terms and conditions, i.e. an all in interest rate of 1.22% p.a. for a term of 8 years, can be taken as a clear signal that confirms the excellent reputation of the Wienerberger Group in the financial market. Together with the redemption of the 2007 hybrid bonds, as already announced, and the simultaneous reduction of the coupon on the 2014 hybrid bonds from 6.5% to 5% p.a. on February 9, 2017, we generate annual savings of € 16.7 million or € 0.14 per share. Thus, funds are being released that can be used for further growth projects.”
The internal target of a debt repayment period of less than two years at the end of the year remains unchanged through this step.
The Wienerberger Group
Wienerberger is the world’s largest producer of bricks (Porotherm, Terca) as well as the market leader in roof tiles (Koramic, Tondach) in Europe and concrete pavers (Semmelrock) in Central and Eastern Europe. In pipe systems (Steinzeug-Kermamo and Pipelife plastic pipes), the company ranks among the leading suppliers in Europe. With a total of 202 production sites, Wienerberger generated revenues of € 2,972 million and operating EBITDA of € 370 million in 2015.
For additional information, please contact:
Klaus Ofner, Head of Investor Relations Wienerberger AG
T +43 1 601 92 - 10221 | firstname.lastname@example.org