New syndicated loan agreement signed at improved conditions

HOMAG Group AG secures financing for future growth

HOMAG Group AG, the world’s leading manufacturer of plant and machinery for the woodworking industry and for cabinet makers, reported that it has entered into a new syndicated loan agreement under which the conditions, volumes and terms have improved compared to the former agreement. The agreement concluded with a syndicate of banks led by Commerzbank, Deutsche Bank and UniCredit has a volume of EUR 210 million. It has a term of four years and, like the agreement valid to date, is subject to compliance with specific covenants. The current agreement, which would have expired in February 2013, originally had a volume of EUR 198 million and a term of three years.

CFO Hans-Dieter Schumacher is very satisfied with the agreement reached: “It has paid off that we engaged in talks with the banks at an early stage. With the new syndicated loan agreement, we have solid financing for implementing our growth plans and it demonstrates the good credit standing that HOMAG Group AG enjoys with banks.”

 

Disclaimer
This press release contains certain statements relating to the future. Future-oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this announcement, it cannot be guaranteed that the same will hold true in the future.

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