Secures long-term financing
Stabilus SE has signed an agreement for credit facilities totaling 450 million euros with a term of five years – with an option to extend for two additional years. The facilities comprise a syndicated term loan facility of 100 million euros and a syndicated revolving credit facility of 350 million euros.
With this step, Stabilus secures attractive conditions, which provide for an interest rate between 50 and 150 basis points above the Euribor (Euro InterBank Offered Rate), depending on the company’s debt level.
With the loans, Stabilus will refinance its credit facilities from June 2016 and secure the Group’s financing structure for the next five to seven years. This puts Stabilus in an excellent position for both its planned organic growth and further acquisitions.
“With the current refinancing, we have the necessary financial scope to continue our positive corporate development and pursue our long-term strategy ‘Star 2030’,” said Dr. Michael Büchsner, CEO of Stabilus. “I would especially like to thank our CFO Mark Wilhelms, who has been with us for many years and will be leaving in September, and who has played a key role in shaping our financing strategy. He hands over the finance portfolio to his successor Stefan Bauerreis with a strong balance sheet and well positioned for the coming years.”