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21.12.2020 – 09:44

FACC AG

EANS-Adhoc: FACC AG
FACC successfully secures long-term financing commitments with core banks

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  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is responsible for the content of this announcement.
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Financing/Ratings/Strategic Management Decisions/Contracts
21.12.2020

Ried im Innkreis - The corona crisis and the expected related negative effects
on the financial and earnings development of the Group required an adjustment of
the contractual conditions of the existing syndicated loan (total volume EUR 285
million distributed over seven banks, maturity on August 29th, 2023).

The focus was on the semi-annually tested financial covenant Net Financial Debt
/ EBITDA less or equal to 4.0.

In the negotiations, which were always on mutual partnership level, a waiver of
the covenant (Covenant Holiday) and an adjustment of the covenant (Covenant
Reset) were agreed for the next test dates. On December 31st, 2022 FACC will
return to the originally agreed covenant of Net Financial Debt / EBITDA less or
equal to 4.0.

               31.12.2020   30.06.2021    31.12.2021    30.06.2022    31.12.2022
Net
Financial
Debt/EBITDA        Waiver       Waiver          5,25          4,25          4,00
(less or
equal to)


In the course of the waiver negotiations, the margin grid for newly introduced
leverage levels was also adjusted.

The promissory note loan (EUR 70 million) issued in 2019 is beside a 50 basis
points margin step-up for Net Financial Debt/EBITDA levels over 3.75 not
affected by the effects of the Corona crisis.

FACC CFO Ales Stárek: "I would like to thank our core banks for the
understanding and flexibility they have shown in making the necessary
adjustments. This negotiation result, which is fundamentally based on our long-
term trusting relationships with our banking partners, gives us the necessary
flexibility to adapt the company to the new market environment - which had
changed due to the corona virus - and to pursue the implementation of the long-
term FACC strategies in a targeted manner."




Further inquiry note:
Florian Heindl
Director
Treasury & Risk Management

E-Mail  f.heindl@facc.com
Mobile +43/664/80 119 1232
Phone  +43/59/616-1232

end of announcement                         euro adhoc
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issuer:       FACC AG
              Fischerstraße 9
              A-4910 Ried im Innkreis
phone:        +43/59/616-0
FAX:          +43/59/616-81000
mail:      office@facc.com
WWW:       www.facc.com
ISIN:         AT00000FACC2
indexes:
stockmarkets: Wien
language:     English