DGAP-News
Senvion Completes Successful Refinancing and Extension of its Debt Facilities (deutsch)
Senvion Completes Successful Refinancing and Extension of its Debt Facilities
^
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.
Lesen Sie auch
---------------------------------------------------------------------------
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA,
AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE
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: +49 40 555 090 3770
20 7034 7992 Mobile: +44 7788 390 Mobile: +49 172 6298 408 Email:
185 Email: [1]immo.von.fallois@senvion.com
[1]dhaval.vakil@senvion.com 1. 1.
mailto:dhaval.vakil@senvion.com 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.
---------------------------------------------------------------------------
27.04.2017 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch DGAP - ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,
Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter http://www.dgap.de
---------------------------------------------------------------------------
Sprache: Deutsch
Unternehmen: Senvion S.A.
46a, avenue John F. Kennedy
L-1855 Luxemburg
Luxemburg
Telefon: +352 26 00 5305
Fax: +352 26 00 5301
E-Mail: press@senvion.com
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
---------------------------------------------------------------------------
568313 27.04.2017
°