UK Markets closed

SAF-HOLLAND: Promissory note loan for refinancing successfully placed – originally targeted volume of at least EUR 100 million upsized to EUR 176 million due to over-subscription

EQS-News: SAF-HOLLAND SE / Key word(s): Financing
SAF-HOLLAND: Promissory note loan for refinancing successfully placed – originally targeted volume of at least EUR 100 million upsized to EUR 176 million due to over-subscription
04.11.2022 / 14:42 CET/CEST
The issuer is solely responsible for the content of this announcement.

 

Corporate News

 

SAF-HOLLAND: Promissory note loan for refinancing successfully placed – originally targeted volume of at least EUR 100 million upsized to EUR 176 million due to over-subscription

 

Bessenbach, November 4, 2022. SAF-HOLLAND SE, one of the leading suppliers of trailer and truck components worldwide, successfully placed a promissory note loan transaction today with a volume of EUR 176 million via its subsidiary, SAF-HOLLAND GmbH. Because of the high demand and the resulting over-subscription, the final amount exceeded the original target volume of EUR 100 million by EUR 76 million.

The tranches of the promissory note loan feature fixed as well as variable interest rates and maturities of three and five years. All tranches were priced at best terms for SAF-HOLLAND. The payment is made with value date November 4, 2022.

The proceeds of the emission will be used to prematurely refinance

  • the 7-year tranche of the promissory note loan issued in November 2020 with a volume of EUR 5 million, which falls due on November 28, 2022,

 

  • the 3-year tranche of the promissory note loan issued in March 2020 with a volume of EUR 141 million, which falls due on March 27, 2023 and

 

  • the 3.5-year tranche of the promissory note loan issued in March 2020 with a volume of EUR 20 million, which falls due on September 27, 2023.

At the same time, it will also be used to prematurely repay EUR 10 million of the term loans taken out in August 2022 (Total volume: EUR 300 million) to finance the acquisition of Haldex AB.

The issue will contribute to optimise the maturity profile and will widen the investor base of the SAF-HOLLAND Group. The promissory note loan was placed with a total of 13 banks and institutional investors in Germany and abroad.

Wilfried Trepels, CFO of SAF-HOLLAND SE states with regard to the successful placement: “The new promissory note loan is another key element of our long-term finance strategy and gives us additional flexibility for the coming years. In the current market environment, we are very satisfied with the volume of the placement, which is well above our expectations.”

The transaction was accompanied by IKB Deutsche Industriebank AG as the Sole Lead Arranger. Noerr LLP acted as legal counsel to SAF-HOLLAND GmbH.

 

 

Contact

Stephan Haas

Head of Investor Relations

Tel: +49 6095 301 803

ir@safholland.de

 

Michael Schickling

Deputy Head of Investor Relations

Tel: +49 6095 301 617

ir@safholland.de

 

 

About SAF-HOLLAND

SAF-HOLLAND SE is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks and buses. The product range includes, among other things, axle and suspension systems for trailers as well as fifth wheels for trucks and coupling systems for trucks, trailers and semi-trailers. In addition, SAF-HOLLAND develops innovative products to increase the efficiency, safety and environmental friendliness of commercial vehicles. The focus here is on the digitalization and networking of trailers as well as the electrification of axles. The products and solutions are marketed under the brands SAF, Holland, V.Orlandi, TrailerMaster, Neway, KLL and York. SAF-HOLLAND supplies original equipment to vehicle manufacturers on six continents. In the aftermarket business, the company supplies spare parts to the manufacturers' service networks as well as to wholesalers and, through an extensive global distribution network, to end customers and service centers. Around 3,700 dedicated employees worldwide are already working on the future of the transport industry. SAF-HOLLAND shares have been listed in the Prime Standard of the German Stock Exchange since 2007 and are part of the SDAX selection index. For further information, please visit: www.safholland.com.

 

Future-oriented statements

This press release contains forward-looking statements based on assumptions and estimates made by the Management Board of SAF-HOLLAND SE. These statements can be identified by wording such as "expect", "want", "anticipate", "intend", "plan", "believe", "strive", "estimate", and "will" or similar terms. Although we assume that the expectations contained in these forward-looking statements are realistic, we cannot guarantee that they will prove to be correct. These assumptions may contain risks and uncertainties that could cause the actual figures to differ considerably from the forward-looking statements. Factors that can cause such discrepancies include changes in the macroeconomic and business environment, changes in exchange rates and interest rates, the introduction of products that compete with our own products, a lack of acceptance of new products or services, and changes in corporate strategy. SAF-HOLLAND does not intend to update these forward-looking statements, nor does it assume any responsibility to do so.

This press release includes supplementary financial indicators that either are or may be so-called alternative performance indicators that are not clearly defined in the relevant financial reporting framework. In assessing the financial position and performance of SAF-HOLLAND, these supplementary financial indicators should not be used in isolation or as an alternative to those presented in the consolidated financial statements and determined in accordance with the relevant financial reporting framework. Other companies that present or report alternative performance indicators with similar names may calculate them differently. Explanations of the key financial figures used are available in the Annual Report of SAF-HOLLAND SE.

Due to rounding, some of the figures presented in this press release as well as in other reports may not add up exactly to the stated totals and percentages presented may not accurately reflect the absolute values to which they relate.

Note

This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. SAF-HOLLAND SE does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.


04.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

SAF-HOLLAND SE

Hauptstraße 26

63856 Bessenbach

Germany

Phone:

+49 6095 301-617

E-mail:

ir@safholland.de

Internet:

www.safholland.com

ISIN:

DE000SAFH001

WKN:

SAFH00

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1479805


 

End of News

EQS News Service

show this
show this