DGAP-News: Wacker Neuson SE / Key word(s): Financing
Wacker Neuson SE increases liquidity as a precautionary measure in uncertain economic environment
Munich, August 13, 2020 - In light of the general economic uncertainty surrounding the Covid-19 pandemic, Wacker Neuson SE has further bolstered its liquidity reserves as a precautionary measure. To this end, the company has successfully placed a promissory note (Schuldschein) in the amount of EUR 50 million with institutional investors. Due to strong demand, particularly among German co-operative and savings banks, the placement was clearly oversubscribed.
"With this placement we are taking early and timely precautions to ensure we are well prepared for any unforeseeable impacts resulting from the Covid-19 pandemic. The Wacker Neuson Group has always prioritized financial stability and it is more important than ever in light of the ongoing coronavirus crisis," explains Wilfried Trepels, CFO of Wacker Neuson SE. The additional funds enable the Group to effectively reclassify its short-term credit lines exclusively as long-term loans. The successful placement of the promissory note in today's market conditions once again confirms the Group's exceptional credit rating.
The promissory note was offered in a tranche of three years with a fixed interest rate. The allotment took place at the lower end of the marketing range. The transaction was arranged by Landesbank Baden-Württemberg (LBBW). It is the fifth promissory note placed by the Group. The Wacker Neuson Group last issued a promissory note in the amount of EUR 150 million in May 2019.
About the Wacker Neuson Group:
13.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Wacker Neuson SE
+49 - (0)89 - 354 02 - 0
+49 (0)89 354 02 - 298
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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