ElringKlinger AG

ElringKlinger completes successful placement of Schuldscheindarlehen

  • Strong demand from investors prompts significant oversubscription
  • Volume of EUR 200 million with maturities of five, seven, and ten years
  • Proceeds to be used for general corporate financing, particularly refinancing of existing Group liabilities

Dettingen/Erms (Germany), July 14, 2017 +++ ElringKlinger AG has completed its very first placement of a Schuldscheindarlehen (loan granted to a company against a form of promissory note). The overall Schuldschein volume of EUR 200 million is divided into three different tranches with maturities of five, seven, and ten years and bears interest of 1.23% on average. The funds from the loan will be used for the purpose of general corporate financing, in particular to refinance existing Group liabilities.

"In completing this private placement in the form of a Schuldscheindarlehen, we have utilized an additional financial instrument and diversified Group financing at good terms. The proceeds are to be used for the extinguishment of existing liabilities and will also provide financial room for maneuver when it comes to the strategic development of the Group," said Thomas Jessulat, CFO of ElringKlinger AG. "The tremendously positive response by investors illustrates the level of confidence in ElringKlinger's business model," Jessulat continued.

Strong demand among investors led to significant oversubscription, as a result of which the volume of EUR 100 million originally planned by the company was doubled to EUR 200 million. The promissory notes were taken up by regional banks within Germany's Genossenschaft (cooperative) and Sparkasse (savings bank) sector as well as by private banks in Germany and abroad. The issuance was managed by Landesbank Baden-Württemberg.

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For further information please contact:

ElringKlinger AG 
Dr. Jens Winter 
Strategic Communications 
Max-Eyth-Straße 2 
D-72581 Dettingen/Erms
Phone +49 7123 724-88335 
Fax +49 7123 724-85 8335 
E-mail jens.winter@elringklinger.com