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Vitesco Technologies Group AG: In volatile market environment, successful refinancing concluded with better conditions

EQS-News: Vitesco Technologies Group AG / Key word(s): Financing/Miscellaneous
Vitesco Technologies Group AG: In volatile market environment, successful refinancing concluded with better conditions
10.11.2022 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

In volatile market environment, successful refinancing concluded with better conditions

  • Vitesco Technologies receives new €800 million revolving line of credit with ESG-Link

  • Improved financing terms and conditions combined with longer maturity

 

Regensburg, November 10, 2022. Vitesco Technologies, a leading international developer and manufacturer of state-of-the-art powertrain technologies for sustainable mobility, has successfully concluded a new €800 million revolving credit facility (RCF) with ESG-Link. By coupling the line of credit with a sustainability component, the credit margin is also linked to the degree to which two sustainability criteria are met. These include the reduction of greenhouse gas emissions and the frequency of occupational accidents in the company. The credit line can be used for general corporate purposes. The term is five years and includes options for extending the maturity date by up to two years.

“The improved terms and conditions have enabled us to further improve our future financing conditions in an increasingly difficult and volatile environment,” says CFO Werner Volz.

With this new RCF, Vitesco Technologies replaces the post Spin-off financing of ultimately €800 million that the company raised about a year ago.

The financing was arranged by Deutsche Bank AG, ING Bank, JP Morgan SE, Landesbank Baden-Württemberg, and Unicredit Bank AG, and syndicated among an extended group of banks.

  

Vitesco Technologies is a leading international developer and manufacturer of cutting-edge drive systems for sustainable transport solutions. With the help of intelligent system solutions and components for electric, hybrid, and internal combustion drive systems, Vitesco Technologies makes clean, efficient, and affordable transport a reality. The product portfolio includes electric drives, electronic control units, sensors and actuators, and exhaust aftertreatment solutions. In 2021, Vitesco Technologies generated sales of €8.3 billion. It employs nearly 37,000 people at around 50 sites. Vitesco Technologies is headquartered in Regensburg.

 

Press contact

Fabian Kutz

Press Spokesperson for Business & Finance

Phone: +49 (0)941 2031-61904

fabian.kutz@vitesco.com

 

Simone Geldhäuser

Head of Media, Press Spokesperson
for Technology and Innovation

Phone: +49 (0)941 2031-61302

simone.geldhaeuser@vitesco.com

 

Press portal

https://www.vitesco-technologies.com/en-us/press

 

Social media

www.vitesco-technologies.com

www.linkedin.com/company/vitesco-technologies

www.twitter.com/VitescoT

www.facebook.com/VitescoTechnologies

www.instagram.com/vitesco_technologies

www.youtube.com/VitescoTechnologies

www.vitesco-technologies.com/en/WeChat


10.11.2022 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:

Vitesco Technologies Group AG

Siemensstraße 12

93055 Regensburg

Germany

Phone:

+49 941 2031 0

E-mail:

ir@vitesco.com

Internet:

www.vitesco-technologies.com

ISIN:

DE000VTSC017

WKN:

VTSC01

Indices:

SDAX

Listed:

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

EQS News ID:

1483553


 

End of News

EQS News Service

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