ESCADA AG

euro adhoc: ESCADA AG
Financing, Stock Offerings
ESCADA and banks sign long-term financing agreement (E)

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Aschheim bei München, August 19, 2003 - ESCADA  AG and its underwriting banks have reached an agreement that will ensure long-term funding for the ESCADA Group. The agreement, signed on August 18, continues ESCADA’s existing credit lines to the end of 2006. Additionally, next summer the banks are willing to make a further commitment that will guarantee redemption of ESCADA AG’s EUR 100 million corporate bond issue, which matures then. The redemption, using funds from the planned financial commitment by private equity firm HMD Partners, the additional bank credit line and cash flow, is thus assured. The agreement with the banks on restructuring financial debt was a key prerequisite under this past June’s agreement for HMD Partners to invest up to EUR 45 million in ESCADA. The technical conditions required for HMD’s involvement are to be approved today at a special meeting of the shareholders of ESCADA AG.

end of announcement            euro adhoc 19.08.2003
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Further inquiry note: Viona Brandt Tel.: +49 (0)89 9944 1336 E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN:      DE0005692107
WKN:        569210
Index:    CDAX, Classic All Share, Prime All Share, Prime Standard, SDAX
Börsen:  Berliner Wertpapierbörse / official dealing
              Bayerische Börse / official dealing
              Frankfurter Wertpapierbörse / official dealing
              Bremer Wertpapierbörse (BWB) / regulated dealing
              Hamburger Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



Weitere Meldungen: ESCADA AG

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