Evonik signs new €1.75 billion syndicated credit facility

Wednesday 21st June 2017 | 0 Comments

 

Evonik Industries AG has secured improved conditions through the refinancing of its existing syndicated credit facility with a group of 18 banks. The new credit facility with an unchanged volume of 1.75 billion euros has a term of five years, with the option of two extensions of one year each. It will end in 2024 at the latest.

The credit facility serves the Group’s central liquidity reserve. With this refinancing, Evonik benefits from the current positive market environment for companies with a solid investment grade rating, securing financial flexibility and independence for the coming years.

Ute Wolf, chief financial officer at Evonik, says: “All invited banks decided to participate in the financing. This underlines the banking sector’s trust in Evonik as a long-term and reliable partner.”

Peter Schallenberg, head of Finance at Evonik, adds: “With the refinancing, we made use of the current good market environment, securing our central liquidity reserve in the long term.”

Six German banks, four from the USA, two each from the UK and France, and banks in Japan, China, Italy, and Switzerland participated in the financing. The transaction was prepared and led by Commerzbank as the coordinating bank.

Tags: , , ,

Category: Company News