Brief: Grammer Completes Refinancing Ahead Of Schedule

GRAMMER AG

25/02/2020 08:41

Feb 25 (Reuters) - GRAMMER AG  GMMG.DE :
    * COMPLETES REFINANCING AHEAD OF SCHEDULE IN A DEMANDING
MARKET
ENVIRONMENT
    * HAS PLACED ITS LONG-TERM GROUP FUNDING OPERATIONS ON A
SOLID
BASIS WITH A NEW SYNDICATED LOAN
    * SYNDICATED LOAN CONSISTS OF TWO TRANCHES
    * TRANCHE A IS COMPOSED OF A CREDIT FACILITY OF EUR 150
MILLION
FOR A PERIOD OF FIVE YEARS PLUS TWO ONE-YEAR RENEWAL OPTIONS
    * REMAINING PURCHASE PRICE OF USD 80 MILLION FOR ACQUISITION
OF US
AUTOMOTIVE COMPONENTS SUPPLIER TMD INC. FUNDED VIA SECOND
TRANCHE B

Source text for Eikon:  ID:nEQ9N1Jh9a 
Further company coverage:  GMMG.DE 

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