CECONOMY AG CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities
Transparency directive : regulatory news
|
DGAP-News: CECONOMY AG
/ Key word(s): Financing
CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities Düsseldorf, 30 July 2021 - CECONOMY AG ("CECONOMY") has settled its post-pandemic financing structure with the termination of its syndicated revolving loan agreement with the participation of KfW and implementation of its new ESG-linked syndicated revolving credit facilities. The €1.7 billion loan facility of the existing syndicated loan agreement with the participation of KfW was concluded in mid-May 2020 during the first wave of the COVID-19 pandemic and complemented CECONOMY's existing credit facilities of €980 million at that time. It purely served as a back-up line and was never drawn. The company had already laid the foundation for its long-term post-pandemic financing structure in May of this year with the signing of new ESG-linked syndicated revolving credit facilities in the amount of €1.06 billion. The new facilities have a diverse maturity profile and are split into an initial five-year tranche with a volume of €707 million and an initial three-year tranche with a volume of €353 million. In addition, CECONOMY issued an inaugural €500 million 5-year senior unsecured bond in June of this year, thereby further enhancing its long-term financing structure. Following the recent issuance of the 5-year senior unsecured bond, CECONOMY now concludes its post-pandemic financing structure with the implementation of the new ESG-linked syndicated revolving credit facilities. The new structure underpins CECONOMY's continued prudent financial policy, which still allows the company to cover liquidity needs even in extraordinary times.
About CECONOMY CECONOMY AG empowers life in the digital world. It is leading for concepts and brands in the field of consumer electronics. The companies in the current CECONOMY portfolio have billions of consumer contacts per year and provide products, services and solutions that make life in the digital world easy and enjoyable, creating value for consumers and shareholders alike. Contact CECONOMY AG Investor Relations Telephone +49 (0) 211 5408-7222 Creditor Relations Telephone +49 (0) 211 5408-7245 Communications, Public Policy & Sustainability Telephone +49 (0) 151 5822-4202
30.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | CECONOMY AG |
| Kaistr. 3 | |
| 40221 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 5408-7225 |
| Fax: | +49 (0)211 5408-7005 |
| E-mail: | stephanie.ritschel@ceconomy.de |
| Internet: | www.ceconomy.de |
| ISIN: | DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/ |
| WKN: | 725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/ |
| Indices: | SDAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1223143 |
| End of News | DGAP News Service |
|
|
1223143 30.07.2021