March 6, 2012
- High demand results in increase of emission volume
- Measure intended for optimizing balance sheet structure and securing scheduled profitable growth
Unterneukirchen (Germany) The SDAX-quoted specialty chemicals Group SKW Metallurgie has successfully placed on the financial markets its first-time promissory note loan for a total amount of € 45 million. Interest by the primarily domestic investors was huge, and the emission was accordingly oversubscribed. Thereby, the initial emission volume maximum in the amount of € 40 mill. was increased by € 5 million to € 45 million due to high demand. The promissory note loan is being issued in three pieces with durations of three, five, and seven years, each with a fixed and a variable interest scheme. Due to the high interest by the financial markets, the interest schemes were fixed at the lower end of the offer spread. Thereby, the average interest expense in the SKW Metallurgie Group is being lowered, since credit lines with higher interest will be replaced. Commerzbank Aktiengesellschaft and NORD/LB Norddeutsche Landesbank have led the transaction as bookrunners.
“Positive investor’s feedback to our promissory note loan and the favorable conditions resulting from it, have shown that the SKW Metallurgie Group enjoys a high standing on the financial markets. By this step, we have significantly improved our balance sheet and finance structure, and also positioned ourselves well for our forthcoming profitable growth,“ says Group CEO Ines Kolmsee.
By the issuance of this promissory note loan, the SKW Metallurgie Group gains access to a new finance source, improves the maturity profile of its financial liabilities, and broadens its investor base. The amount of the loan will on the one hand be used to re-finance existing loans, but on the other hand will secure the necessary financial reserves for the scheduled future growth.
Further information on the Group may be found in this web site.
Contact
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of IR and Corporate Communications
Prinzregentenstrasse 68
81675 Muenchen
Germany
Direct line IR/Press: +49 89 5998923-22
Fax: +49 89 5998923-29
E-mail: schunck@skw-steel.com
Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG
SKW Metallurgie is the global market leader for chemical additives for hot metal desulphurization, and for cored wire used in secondary metallurgy. The Group’s products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world’s leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The company’s operating business is broken down into the two core segments “Cored Wire” and “Powder and Granules”, and the “Other” segment. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US (6), Canada, Mexico, Brazil, South Korea, Sweden, Russia, Bhutan, the People’s Republic of China (2) and India (2 via joint venture). At the existing site in Brazil, a new production plant is under construction.
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange’s Prime Standard since December 1, 2006 with ISIN DE000SKWM013 (since August 15, 2011: New ISIN DE000SKWM021), and have been included in the SDAX index from June 23, 2008.
DISCLAIMER
This press release contains statements on future developments that are based on currently available information and involve risks and uncertainties that could cause the actual results to differ from these forward-looking statements. These risks and uncertainties include, for example, unpredictable changes in political and economic conditions, particularly in the steel and paper industry, the competitive situation, interest and currency risks, technological development as well as other risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and its Group companies accept no obligation to update such forward-looking statements.
