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Germany : HOMAG GROUP extends syndicated loan agreement by 5-year

May 27, 2014

Homag Group AG announced the extension of syndicated loan agreement completed in 2012 ahead of schedule and again significantly enhanced the conditions of the agreement.

The extended loan agreement term is for 5-year and like the agreement valid to date, has to meet compliance with specific covenants.

Both the syndicate of banks led by Commerzbank, Deutsche Bank and UniCredit as well as the volume of Euro 210 million are identical to the former agreement, which was set to expire in September 2016.

CFO Hans-Dieter Schumacher said, We took advantage of this opportunity to further reduce our borrowing costs. The banks have rewarded the strong development of Homag Group AG as reflected in the constant improvement of the results of operations since the conclusion of the former agreement. Our plans for growth thus continue to be backed by sound financing.

Homag Group AG is the world s leading manufacturer of plant and machinery for the woodworking industry and cabinet makers.

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Source: TendersInfo (India)

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