EANS-News: voestalpine AG /voestalpine broadens measures to safeguard liquidity
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Company Information/Measures to safeguard liquidity
Linz (euro adhoc) - The voestalpine Group is responding quickly to the changing
market situation. A syndicated loan of EUR 800 million in two tranches has been
agreed in order to safeguard medium and long-term financing.
In total voestalpine will be supplied with two tranches of EUR 400 million, each
with a maturity of five years, issued by a consortium of eleven banks. The first
tranch will safeguard liquidity needs for investments and repayments during the
business year 2012/13. The second tranch is intended to cushion potential market
disturbances in the field of financing and is a purely precautionary measure.
Although the transaction was significantly oversubscribed, in the end it was not
increased. "Taking measures to safeguard liquidity represents a further
diversification of our recent corporate action", explains Chief Financial
Officer Robert Ottel. voestalpine was very successful in placing a corporate
bond with a volume of EUR 500 million on the capital market in January 2011.
Foreign banks make up two thirds of the consortium, the remaining third of the
banking partners comes from Austria, and is being coordinated by the UniCredit
Bank Austria AG and the Credit Agricole Corporate & Investment Bank.
The voestalpine Group
voestalpine is a globally active group with a variety of specialized and
flexible companies which produce, process, and further develop high-quality
steel products. The group is represented by 360 production and sales companies
in more than 60 countries on five continents.
With its highest quality flat steel products, voestalpine is one of Europe's
leading partners to the automotive, white goods, and energy industries.
Furthermore, voestalpine is the world market leader in turnout technology, tool
steel, and special sections, as well as number one in Europe in the production
of rails. In the business year 2010/11, the voestalpine Group generated revenues
of around EUR 11 billion, and achieved an operating result (EBIT) of almost EUR
1 billion; the Group has around 45,000 employees worldwide.
For further information:
voestalpine AG
Corporate Communications
Peter Felsbach
voestalpine-Strasse 1
4020 Linz
T. +43/50304/15-2397
presse@voestalpine.comwww.voestalpine.com
Further inquiry note:
Gerald Resch
Investor Relations Manager
Tel.: +43/50304/15-8735
Fax: +43/50304/55-5581
mailto:gerald.resch@voestalpine.com
http://www.voestalpine.com
end of announcement euro adhoc
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company: voestalpine AG
voestalpine-Straße 1
A-4020 Linz
phone: +43 50304/15-9949
FAX: +43 50304/55-5581
mail: IR@voestalpine.com
WWW: www.voestalpine.com
sector: Metal Goods & Engineering
ISIN: AT0000937503
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English