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Gerry Weber International AG: GERRY WEBER International AG strengthens liquidity

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Gerry Weber International AG / Key word(s): Financing
Gerry Weber International AG: GERRY WEBER International AG strengthens liquidity

18-Feb-2021 / 12:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Ad-hoc announcement pursuant to section 17 MAR

GERRY WEBER International AG: GERRY WEBER International AG strengthens liquidity

(Halle/Westphalia, 18 February 2021) - GERRY WEBER International AG receives additional liquidity of at least approximately EUR 5 million. Today, the company has entered into a new, secured credit facility for this purpose. Bondholders of the company with a minimum volume of bonds in the amount EUR 100,000 (based on the nominal amount or redemption amount) who are authorized to grant loans to the company will be given the opportunity to exchange their bonds plus an additional cash payment of at least EUR 100,000 (corresponding to EUR 1 in cash for each EUR 1 nominal amount or redemption amount of the bonds participating in the exchange) into an investment in the credit facility in the amount of at least EUR 200,000. The total volume of the credit facility is up to EUR 12 million, which can provide the company with up to EUR 6 million in additional liquidity. In this context, the company's three largest shareholders have agreed to assume a backstop commitment through their respective affiliated companies Robus SCSp, SICAV-FIAR-ROBUS RECOVERY FUND II, Morrigan Lending Designated Activity Company and J.P. Morgan AG in favor of GERRY WEBER International AG in order to guarantee the payout of at least approximately EUR 5 million in additional liquidity to the company.

The Management Board

Reporting Person:
Florian Frank
Member of the Management Board
Phone.: +49 5201 185-140
ir@gerryweber.com

18-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Gerry Weber International AG

Neulehenstraße 8

33790 Halle/Westfalen

Germany

Phone:

+49 (0)5201 185-0

Fax:

+49 (0)5201 5857

E-mail:

ir@gerryweber.com

Internet:

http://group.gerryweber.com

ISIN:

DE000A255G36

WKN:

A255G3

Listed:

Regulated Market in Dusseldorf, Frankfurt (General Standard)

EQS News ID:

1169414


 

End of Announcement

DGAP News Service

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