Brief: Kapsch TrafficCom Agrees On Restructuring With Financial Creditors

Kapsch TrafficCom AG

31/05/2023 09:07

May 31 (Reuters) - KAPSCH TRAFFICCOM AG  KTCG.VI :
    * AGREES ON COMPREHENSIVE RESTRUCTURING WITH ITS MAJOR
FINANCIAL
CREDITORS.
    * DIVIDEND POLICY REMAINS SUSPENDED - NO DIVIDEND PAYMENTS
    * EXTENSION OF EXISTING FINANCING AND NEW FINANCING UNTIL
MAY 25,
2025
    * OBJECTIVE IS A SUBSTANTIAL REDUCTION OF NET DEBT BY AT
LEAST EUR
60 MILLION AND IN LONGER TERM TO A LEVEL OF NET DEBT TO EBITDA
OF 3.0X
    * MAIN SHAREHOLDER KAPSCH-GROUP BETEILIGUNGS GMBH SUPPORTS
RESTRUCTURING BY PLEDGING ALL OF ITS SHARES HELD IN COMPANY

Source text for Eikon:  ID:nEQb1Whw4a 
Further company coverage:  KTCG.VI 

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