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HOCHTIEF Successfully Places Promissory Note Loan for EUR 120 Million - Offer oversubscribed in difficult market environment - Investors confirm Group’s excellent credit standing - HOCHTIEF.de
HOCHTIEF Successfully Places Promissory Note Loan for EUR 120 Million

 

NewswireToday - /newswire/ - Essen, Nordrhein-Westfalen, Germany, 2011/11/30 - Offer oversubscribed in difficult market environment - Investors confirm Group’s excellent credit standing - HOCHTIEF.de.

   
 
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HOCHTIEF has successfully placed a promissory note loan on the market: The offer of an original EUR 100 million met with great interest on the part of national and international investors and was clearly oversubscribed. The loan amount was raised to a total of EUR 120.6 million. “The positive response from the investors in the midst of a difficult and volatile market environment shows that we continue to be perceived as a company with a very good credit standing", says Peter Sassenfeld, member of the Executive Board and CFO of HOCHTIEF. With this loan, according to Sassenfeld, the Group reinforces its long-term financing capacities and the further operative development.

The loan has a term of five years. Interest is well below the level of the last few years and was kept within the targeted bandwidth of conditions. The proceeds of the issue will be fully used to refinance a promissory note loan from 2009 which HOCHTIEF terminated early for reasons related to loan conditions. The issue was arranged by Westdeutsche Landesbank AG, Düsseldorf.

About HOCHTIEF

HOCHTIEF (hochtief.com) is one of the leading international providers of construction-related services. With more than 70 000 employees and a sales volume of EUR 20.16 billion in FY 2010, the company is represented in all the world‘s major markets. The Group's service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities

 
 
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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Successfully Places Promissory Note Loan for EUR 120 Million

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HOCHTIEF AG |
Publisher Contact: Christian Gerhardus - HOCHTIEF.de 
+49 201 824-2642 christian.gerhardus[.]hochtief.de
 
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