DGAP-News

Klöckner & Co cancels external rating agreements after early redemption of 2010 convertible bond

DGAP-News: Klöckner & Co. SE / Key word(s): Miscellaneous
Klöckner & Co cancels external rating agreements after early redemption of
2010 convertible bond

19.01.2016 / 17:05
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Duisburg, Germany, January 19, 2016 - Klöckner & Co has redeemed its 2010
convertible bond early from available cash resources. Following exercise of
the right of termination by
Klöckner & Co SE, the convertible bonds still outstanding were redeemed on
January 12, 2016.

With the 2010 convertible bond redeemed in full, Klöckner & Co no longer
has any outstanding listed debt instruments. In this connection, Klöckner &
Co has decided to cancel the rating agreements currently in place with the
two rating agencies Standard & Poor's and Moody's Investors Service. The
rating withdrawals have no impact on the existing financing portfolio.

Marcus A. Ketter, CFO of Klöckner & Co SE: "Following the redemption of the
convertible bond, our financing strategy is still geared to a widely
diversified portfolio of financing instruments. Our committed facilities in
excess of over EUR1.5 billion are currently only about one-third drawn.
This means we can continue to respond to changes in capital requirements
with great flexibility in the future."

About Klöckner & Co:
Klöckner & Co is one of the largest producer-independent distributors of
steel and metal products and one of the leading steel service center
companies worldwide. Based on its distribution and service network of
around 220 locations in 15 countries, the Group supplies more than 150,000
customers. In addition to companies in the construction industry as well as
machinery and mechanical engineering, Klöckner & Co serves customers in the
automotive and chemical industry, in shipbuilding and in fields of
household appliances, consumer goods and energy. Currently Klöckner & Co
has around 9,600 employees. The Group had sales of around EUR6.5 billion in
fiscal 2014.

The shares of Klöckner & Co SE are admitted to trading on the regulated
market segment (Regulierter Markt) of the Frankfurt Stock Exchange
(Frankfurter Wertpapierbörse) with further post-admission obligations
(Prime Standard). Klöckner & Co shares are listed in the
MDAX(R)-Index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.

Contact person Klöckner & Co SE:
Christian Pokropp - Press Spokesperson
Head of Investor Relations & Corporate Communications
Telephone: [phone]
Fax: [phone]
Email: [e-mail]


---------------------------------------------------------------------------

19.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------


Language: English
Company: Klöckner & Co. SE
Am Silberpalais 1
47057 Duisburg
Germany
Phone: +49 (0)203 / 307-0
Fax: +49 (0)203 / 307-5000
E-mail: [e-mail]
Internet: www.kloeckner.com
ISIN: DE000KC01000
WKN: KC0100
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart


End of News DGAP News Service
---------------------------------------------------------------------------

430763 19.01.2016