Heidelberger Druckmaschinen AG / Key word(s): Bond/Financing
14.03.2016 10:48
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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*Company partially redeems existing high-yield bond running to 2018
*Around EUR64.5 million from the bond to be repaid from cash on hand in
mid-April
Heidelberger Druckmaschinen AG (Heidelberg) is improving its financing
structure. The company today decided to redeem a further sum of around
EUR64.5 million from the high-yield bond (with a coupon of 9.25 percent),
which runs to 2018 and has a current volume of around EUR115 million. The
sum will be repaid on April 15, 2016. Issued in 2011 with an original
volume of some EUR300 million, the bond was a key element in using
long-term capital market instruments to diversify the company's financing
and has gradually been repaid since then. The latest repayment is being
made from cash on hand and the annual interest saving of around EUR6
million will have a positive impact on the financial result.
In accordance with the bond conditions, the early redemption will take
place by means of a public announcement with effect from April 15, 2016
with a redemption value, including redemption premium, of around 102.3
percent. The notice of redemption can also be viewed directly on the
Luxembourg Stock Exchange's website.
For additional details about the company and image material, please visit
the Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.
Contact:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: thomas.fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-Mail: robin.karpp@heidelberg.com
Important note:
This press release contains forward-looking statements based on assumptions
and estimations by the Management Board of Heidelberger Druckmaschinen
Aktiengesellschaft. Even though the Management Board is of the opinion that
those assumptions and estimations are realistic, the actual future
development and results may deviate substantially from these
forward-looking statements due to various factors, such as changes in the
macro-economic situation, in the exchange rates, in the interest rates and
in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft
gives no warranty and does not assume liability for any damages in case the
future development and the projected results do not correspond with the
forward-looking statements contained in this press release.
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Information and Explanation of the Issuer to this News:
Heidelberg optimizes financial framework - annual interest saving of some
EUR6 million
*Company partially redeems existing high-yield bond running to 2018
*Around EUR64.5 million from the bond to be repaid from cash on hand in
mid-April
*Financing structure improved: Lower annual interest means greater room for
maneuver in future
Heidelberger Druckmaschinen AG (Heidelberg) is improving its financing
structure. The company today decided to redeem a further sum of around
EUR64.5 million from the high-yield bond (with a coupon of 9.25 percent),
which runs to 2018 and has a current volume of around EUR115 million. The
sum will be repaid on April 15, 2016. Issued in 2011 with an original
volume of some EUR300 million, the bond was a key element in using
long-term capital market instruments to diversify the company's financing
and has gradually been repaid since then. The latest repayment is being
made from cash on hand and the annual interest saving of around EUR6
million will have a positive impact on the financial result. As well as
investing in growth areas such as the digital and services sectors, the
company is thus also in a position to further strengthen its financing
structure. As part of the reorientation of Heidelberg, reducing the level
of debt will create additional options for the company's strategic further
development.
'We are continuously working on optimizing our financing framework step by
step,' said CFO Dirk Kaliebe. 'Thanks to the annual savings, we have
succeeded in giving the company greater financial scope for making
acquisitions and investing in growth and innovation,' he added.
In accordance with the bond conditions, the early redemption will take
place by means of a public announcement with effect from April 15, 2016
with a redemption value, including redemption premium, of around 102.3
percent. The notice of redemption can also be viewed directly on the
Luxembourg Stock Exchange's website.
For additional details about the company and image material, please visit
the Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.
Further information:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: Thomas.Fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-mail: robin.karpp@heidelberg.com
Important note:
This press release contains forward-looking statements based on assumptions
and estimations by the Management Board of Heidelberger Druckmaschinen
Aktiengesellschaft. Even though the Management Board is of the opinion that
those assumptions and estimations are realistic, the actual future
development and results may deviate substantially from these
forward-looking statements due to various factors, such as changes in the
macro-economic situation, in the exchange rates, in the interest rates and
in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft
gives no warranty and does not assume liability for any damages in case the
future development and the projected results do not correspond with the
forward-looking statements contained in this press release.
14.03.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Heidelberger Druckmaschinen AG
Gutenbergring
69168 Wiesloch
Germany
Phone: +49 (0)6222 82-67121
Fax: +49 (0)6222 82-67129
E-mail: investorrelations@heidelberg.com
Internet: www.heidelberg.com
ISIN: DE0007314007
WKN: 731400
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart; Terminbörse EUREX
End of Announcement DGAP News-Service
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DGAP-Adhoc: Heidelberger Druckmaschinen AG: Heidelberg optimizes financial framework - annual interest saving of some EUR6 million
| Source: EQS Group AG