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Wienerberger AG

Wienerberger optimizes financing structure

Vienna (ots)

  • Successful placement of ¤ 300 million syndicated term loan
  • First step on international debt market
  • Initial Standard & Poor's rating for Wienerberger: "BBB-/positive outlook"
Internationalization of financing
Wienerberger AG has optimized its financing structure with a focus
on future growth. This optimization is designed to safeguard
financing for the Group's expansion strategy over the long-term, in
order to meet upcoming opportunities on and requirements of financial
markets. Two major steps were taken in recent weeks: the
internationalization of financing through successful placement of a
syndicated term loan and a rating by Standard & Poor's.
Increase in financial flexibility
The syndicated term loan was placed internationally led by Bank
Austria Creditanstalt (mandated lead arranger) and ABN-Amro (senior
arranger) with a target volume of ¤ 200 million. Strong demand by the
twelve invited banks made it possible to raise the volume to ¤ 300
million. The syndicated term loan will replace the bridge financing
of ¤ 186 million from the acquisition of Koramic Roofing, and improve
financial flexibility to continue the Group's successful expansion
strategy. Wienerberger has now secured total liquidity requirements
for 2003 and substantially expanded its international pool of
financing banks. Important is also the shift in financing from
short-term to long-term. In comparison to year-end 2002, short-term
liabilities have declined from roughly one-third to 25%.
Investment grade rating by S&P's
In order to prepare for further steps on international debt
markets, a rating was conducted for the first time. As confirmation
of its solid credit standing, Wienerberger was classified as
"BBB-/Positive Outlook" by Standard & Poor's. This represents an
investment grade rating for Wienerberger and ranks the company in the
middle of its peer group of significantly larger companies such as
CRH, Lafarge, Hanson and Heidelberg Cement. Moreover, Wienerberger is
the only company in the building materials sector to receive the
prospect of a rating upgrade through the Standard & Poor's
designation "Positive Outlook". This is a special distinction, given
the current rather weak economic environment.

Contact:

Thomas Melzer, Public and Investor Relations
phone +43(1)60192-463
E-Mail: investor@wienerberger.com

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