Brief: Leoni Appoints Hans-Joachim Ziems As Chief Restructuring Officer

Leoni AG

13/03/2020 16:58

March 13 (Reuters) - Leoni AG  LEOGn.DE :
    * DGAP-ADHOC: LEONI AG: LEONI'S ABILITY TO RESTRUCTURE AND THAT IT IS FULLY FINANCED
CONFIRMED BY
EXPERT OPINION IN ACCORDANCE WITH IDW S6 - SUPERVISORY BOARD APPOINTS HANS-JOACHIM ZIEMS AS
CHIEF RESTRUCTURING OFFICER TO THE BOARD OF DIRECTORS OF LEONI AG
    * LEONI AG - HAS COME TO UNDERSTANDING WITH ITS FINANCING PARTNERS ON MEASURES TO COVER IN
DECEMBER 2019 IDENTIFIED LIQUIDITY REQUIREMENT
    * LEONI AG - THIS WILL ENABLE INCREASE OF ITS AVAILABLE LIQUIDITY BY AT LEAST EUR 200
MILLION
    * LEONI AG - MEASURES INCLUDE SUBSTANTIAL EXPANSION OF EXISTING FACTORING PROGRAMME, SALE
AND
LEASEBACK TRANSACTIONS OF ASSETS IN GERMANY AND CHINA
    * LEONI AG - MEASURES ALSO INCLUDE RESTRUCTURING OF VARIOUS EXISTING BILATERAL CREDIT LINES
INTO A
NEW SYNDICATED CREDIT LINE
    * LEONI AG - MEASURE HAS NO IMPACT ON EXISTING SYNDICATED CREDIT FACILITY FROM 2018
    * LEONI AG - COMMITTED NOT TO PAY A DIVIDEND UNTIL RESTRUCTURED CREDIT LINES HAVE BEEN
REPAID

Source text for Eikon:  ID:nEQ5NWS7Sa 
Further company coverage:  LEOGn.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))