DGAP-News

Senvion Completes Successful Refinancing and Extension of its Debt Facilities (deutsch)

Senvion Completes Successful Refinancing and Extension of its Debt Facilities

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DGAP-News: Senvion S.A. / Schlagwort(e): Anleihe

Senvion Completes Successful Refinancing and Extension of its Debt

Facilities

27.04.2017 / 20:49

Für den Inhalt der Mitteilung ist der Emittent verantwortlich.

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IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

Senvion Completes Successful Refinancing and Extension of its Debt

Facilities

- Annualized interest cost savings of more than EUR14 million, representing

a reduction of 35%

- Extension of maturity of Senior Secured Notes to 2022 from 2020

- Amendment and extension of Revolving Credit and L/G Facilities

Hamburg: Senvion Holding GmbH, a limited liability company incorporated

under the laws of the Federal Republic of Germany (the "Issuer"), announced

today that it has priced EUR400.0 million in aggregate principal amount of

senior secured fixed rate notes due 2022 (the "Senior Secured Notes") at

3.875%, a reduction of 2.75% compared to the Issuer's Existing Notes (as

defined below). The Issuer expects that the Senior Secured Notes will be

issued on May 5, 2017.

The proceeds of the Senior Secured Notes will be used, together with cash on

hand, to fund the redemption of all of the EUR400.0 million in aggregate

principal amount of the Issuer's 6.625% Senior Secured Notes due 2020 (the

"Existing

Notes") and pay certain fees and expenses in connection with the foregoing.

On May 5, 2017, the Issuer and its affiliates (the "Senvion Group") will

also amend and restate its EUR950,000,000 revolving credit and guarantee

facilities agreement (the "Revolving Credit and L/G Facilities Agreement").

Following this amendment and restatement, the margin on the guarantee

facility made available under the Revolving Credit and L/G Facilities

Agreement will decrease by 50 bps and the margin on the revolving credit

facility made available under the Revolving Credit and L/G Facilities

Agreement will decrease by 50 bps.

The Issuer estimates that the annualized interest cost savings, following

the issuance of the Senior Secured Notes, the amendment and restatement of

the Revolving Credit and L/G Facilities Agreement and the redemption in full

of the Existing Notes on May 5, 2017, will amount to more than EUR14

million.

Jürgen Geissinger, CEO of Senvion said: "The successful completion of these

transactions highlights the acceptance by the markets of our strong

commitment to our markets strategy, as well as in product development,

innovation and investment, and improved processes, while reducing costs, to

deliver further success and ensure long term competitiveness. Combined with

our Move Forward efficiency program, the announced refinancing of the notes

and the amendment and extension of the RCF provides a solid foundation for

our continued global growth strategy."

Manav Sharma, Senvion CFO, added: "We are pleased with the successful

completion of these transactions and for the continuing trust of our banking

partners and bond investors in the Senvion Group and in the work we are

doing which helped to deliver an interest cost reduction in excess of 35%.

The interest rate improvements are expected to positively affect our margins

and are expected to significantly add to the bottom line and further

increase the competitiveness of the Senvion Group."

The Senior Secured Notes are being offered only to qualified institutional

buyers in accordance with Rule 144A under the U.S. Securities Act of 1933,

as amended (the "Securities Act"), and outside the United States in

accordance with Regulation S under the Securities Act and, if an investor is

a resident of a member state of the European Economic Area (the "EEA"), only

to an investor that is a qualified investor (within the meaning of Article

2(1)(e) of Directive 2003/71/EC, together with any amendments thereto,

including Directive 2010/73/EU, to the extent implemented in the relevant

member state (the "Prospectus Directive")).

About Senvion:

Senvion is a leading global manufacturer of onshore and offshore wind

turbines. The company develops, produces and markets wind turbines for

almost any location - with rated outputs of 2 MW to 6.3 MW and rotor

diameters of 82 metres to 152 metres. Furthermore, the company offers its

customers project specific solutions in the areas of turnkey, service and

maintenance, transport and installation, as well as foundation planning and

construction. The systems are designed at the Senvion TechCenter in

Osterrönfeld and manufactured at its German plants in Husum (North

Friesland), Trampe (Brandenburg) and Bremerhaven, as well as Portugal. With

approximately 4,600 employees worldwide, the company makes use of the

experience gained from the manufacture and installation of more than 6,700

wind turbines around the world. The company's operational subsidiary Senvion

GmbH is based in Hamburg and represented by distribution partners,

subsidiaries and participations in European markets such as France, Belgium,

the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as

well as on a global level in the USA, China, Australia, Japan, India and

Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock

Exchange.

Senvion Investor Relations Senvion Press contact Immo von

contact Dhaval Vakil Phone: +44 Fallois Phone: [phone]

20 7034 7992 Mobile: [phone] Mobile: [phone] Email:

185 Email: [1][e-mail]

[1][e-mail] 1. 1.

mailto:[e-mail] mailto:immo.von.fallois@senvion.

com

Disclaimer

This document is not an offer of securities for sale in the United States.

The Notes may not be sold in the United States unless they are registered

under the Securities Act or are exempt from registration. The offering of

Notes described in this announcement and any related guarantees has not been

and will not be registered under the Securities Act, and accordingly any

offer or sale of Notes and such guarantees may be made only in a transaction

exempt from the registration requirements of the Securities Act.

It may be unlawful to distribute this document in certain jurisdictions.

This document is not for distribution in Canada, Japan or Australia. The

information in this document does not constitute an offer of securities for

sale in Canada, Japan or Australia.

Promotion of the Notes in the United Kingdom is restricted by the Financial

Services and Markets Act 2000 (the "FSMA"), and accordingly, the Notes are

not being promoted to the general public in the United Kingdom. This

announcement is for distribution only to, and is only directed at, persons

who (i) have professional experience in matters relating to investments

falling within Article 19(5) of the Financial Services and Markets Act 2000

(Financial Promotion) Order 2005, as amended (the "Financial Promotion

Order"), (ii) are persons falling within Article 49(2)(a) to (d) (high net

worth companies, unincorporated associations, etc.) of the Financial

Promotion Order, or (iii) are persons to whom an invitation or inducement to

engage in investment activity within the meaning of section 21 of the FSMA

in connection with the issue or sale of any securities may otherwise

lawfully be communicated or caused to be communicated (all such persons

together being referred to as "relevant persons"). This announcement is

directed only at relevant persons and must not be acted on or relied on by

anyone who is not a relevant person.

In addition, if and to the extent that this announcement is communicated in,

or the offer of securities to which it relates is made in, any EEA member

state that has implemented the Prospectus Directive, this announcement and

the offering of any securities described herein are only addressed to and

directed at persons in that member state who are "qualified investors"

within the meaning of the Prospectus Directive or in any other circumstances

falling within Article 3(2) of the Prospectus Directive (or who are other

persons to whom the offer may lawfully be addressed) and must not be acted

on or relied on by other persons in that member state. The offer and sale of

the Notes will be made pursuant to an exception under the Prospectus

Directive, as implemented in the EEA member states, from the requirement to

produce a prospectus for offers of securities. This announcement does not

constitute a prospectus within the meaning of the Prospectus Directive or an

offer to the public.

Neither the content of the Issuer's website nor any website accessible by

hyperlinks on the Issuer's website is incorporated in, or forms part of,

this announcement. The distribution of this announcement into jurisdictions

other than the United Kingdom may be restricted by law. Persons into whose

possession this announcement comes should inform themselves about and

observe any such restrictions. Any failure to comply with these restrictions

may constitute a violation of the securities laws of any such jurisdiction.

No money, securities or other consideration is being solicited, and, if sent

in response to the information contained herein, will not be accepted.

This press release may include projections and other "forward-looking"

statements within the meaning of applicable securities laws. Forward-looking

statements are based on current expectations and involve a number of known

and unknown risks, uncertainties and other factors that could cause the

Senvion Group or its industry's actual results, levels of activity,

performance or achievements to be materially different from any future

results, levels of activity, performance or achievements expressed or

implied by such forward-looking statements. You should not place undue

reliance on forward-looking statements and the Senvion Group does not

undertake publicly to update or revise any forward-looking statement that

may be made herein, whether as a result of new information, future events or

otherwise.

This disclosure includes the release of inside information.

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27.04.2017 Veröffentlichung einer Corporate News/Finanznachricht,

übermittelt durch DGAP - ein Service der EQS Group AG.

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Sprache: Deutsch

Unternehmen: Senvion S.A.

46a, avenue John F. Kennedy

L-1855 Luxemburg

Luxemburg

Telefon: [phone]

Fax: [phone]

E-Mail: [e-mail]

Internet: www.senvion.com

ISIN: LU1377527517, XS1223808749, XS1223809390

WKN: A2AFKW

Börsen: Regulierter Markt in Frankfurt (Prime Standard);

Freiverkehr in Berlin, Düsseldorf, Hamburg, München,

Stuttgart, Tradegate Exchange; Dublin, Luxemburg

Ende der Mitteilung DGAP News-Service

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568313 27.04.2017

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