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HOCHTIEF Subsidiary Aurelis Successfully Refinances EUR 700 Million Credit - The HOCHTIEF subsidiary aurelis has successfully refinanced a credit line due to expire in 2012: The company concluded an agreement with pbb Deutsche Pfandbriefbank as syndicate leader to prolong, at an early stage, the financing until September 2015
HOCHTIEF Subsidiary Aurelis Successfully Refinances EUR 700 Million Credit

 

NewswireToday - /newswire/ - Essen, Nordrhein-Westfalen, Germany, 2011/12/19 - The HOCHTIEF subsidiary aurelis has successfully refinanced a credit line due to expire in 2012: The company concluded an agreement with pbb Deutsche Pfandbriefbank as syndicate leader to prolong, at an early stage, the financing until September 2015. ASX: CIM

   
 
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• Early prolongation until September 2015;
• Transaction makes for long-term planning realibility.

The credit volume is roughly EUR 700 million. Market-conformant, good conditions have been agreed for the financing. In the last two years, aurelis already reduced the originally more than EUR 900 million non-recourse financing by a good EUR 200 million through the successful sale of properties, thus further improving the financing relations.

"By refinancing the credit early, we have achieved sustained planning reliability at an early stage. In the difficult environment of the financial markets, this is an important success. It underscores our company’s good credit standing," says Joachim Wieland, Management Spokesman of aurelis.

The Lead Arranger of the syndicate and Agent of the transaction is pbb Deutsche Pfandbriefbank AG.

In the last few weeks, HOCHTIEF (hochtief.com) already successfully placed a promissory note loan of EUR 120 million which was clearly oversubscribed. Some days ago, the Group also refinanced, at an early stage, credit lines of EUR 2 billion. The demand by international bank syndicates in this case exceeded the credit volume by almost 20 percent, which once more underscored the good credit standing of the company. The Group‘s financing is thus secured in the long term.

 
 
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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Subsidiary Aurelis Successfully Refinances EUR 700 Million Credit

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Publisher Contact: Christian Gerhardus - HOCHTIEF.de 
presse[.]hochtief.de
 
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