EDAG Engineering Group AG / Key word(s): Financing
EDAG Engineering Group AG: EDAG decides to prematurely waive the drawdown as well as terminate the KfW loan
Arbon, June 23, 2021. The Management of EDAG Engineering GmbH, a subsidiary of EDAG Engineering Group AG (EDAG), has decided today, to prematurely terminate the KfW loan in the amount of 60 million Euros, which has been contractually agreed in November 2020. With the premature termination of the loan, the prohibition on dividend payments also ceases to apply.
The overall market recovery and the positive effects of the performance improvement measures implemented in the previous year mean that the complementary funding of the KfW loan is no longer necessary. The company has thus overcome the economic effects of the Corona pandemic faster and better than assumed in November.
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23-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
EDAG Engineering Group AG
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