DGAP-News 459 0 Kommentare Progress-Werk Oberkirch AG: PWO concludes a syndicated loan agreement for the first time

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Miscellaneous
Progress-Werk Oberkirch AG: PWO concludes a syndicated loan agreement for
the first time

08.08.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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- Secures volume of EUR 100 million for five years

- Takes advantage of current favorable market environment

- Places financing of future growth on solid footing

Oberkirch, August 8, 2016 - PWO has successfully broadened its financing
options and secured its long-term financing for the Group. For the first
time, the Company concluded a syndicated loan with existing banking
partners and one new banking partner for a volume of EUR 100 million. This
loan combines previously existing bilateral financing and expands the
Group's financial leeway. A portion of the volume mentioned can also be
used to finance acquisitions. This new variable financing has a five-year
maturity with options to extend.

Bernd Bartmann, Management Board Member responsible for the administration
& finance area, is very pleased stating: "The syndicated loan secures the
financing necessary to give us planning certainty for the next several
years. It also allows us the flexibility to implement new projects
throughout the Group at attractive borrowing costs. We are delighted that
our longstanding banking partners are accompanying us in our quest for
continued international growth and that we have also won a new partner."

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced
metal components and systems in lightweight construction for automobile
safety and comfort. The Group has developed a unique knowledge in the
forming and joining of metals over the course of its roughly 97-year
history since it was founded in 1919. The German location at Oberkirch
today employs around 1,500 staff members. PWO is globally represented with
further sites in the Czech Republic, Canada, Mexico, and China. The Group
employs a total of 3,100 staff members.

PW0 is a partner to the global automotive industry for the development and
production of innovative products in the divisions of "Mechanical
components for electrical and electronic applications", "Safety components
for airbags, seats and steering" and "Components and subsystems for vehicle
bodies and chassis".

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08.08.2016 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.

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Archive at www.dgap.de

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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-347
Fax: +49 (0)7802 84-789
E-mail: ir@progress-werk.de
Internet: www.progress-werk.de
ISIN: DE0006968001
WKN: 696800
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Tradegate Exchange

End of News DGAP News Service
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490013 08.08.2016