STRABAG SE to refinance two loans totalling € 2.4 billion before their original maturity

  • Favourable financing environment and credit enhancement
  • € 2.0 billion syndicated surety loan – new maturity in 2021 or later
  • € 0.4 billion syndicated cash credit line – new maturity in 2021 or later

VIENNA, 29-Jan-2016 — /EuropaWire/ — The publicly listed construction and technology group STRABAG SE has taken advantage of the favourable financing environment and recent credit enhancement to refinance two loans totalling € 2.4 billion before their original maturity. The conditions and terms to maturity of the € 2.0 billion syndicated surety loan and the € 0.4 billion syndicated cash credit line have been redefined. The new five-year terms to maturity – i.e. until 2021 – with two options to extend by one year each will further allow STRABAG SE to secure its comfortable financing position for the long term.

“The enhancement of our investment grade credit rating by Standard & Poor’s in mid-2015 from BBB- to BBB, as well as the low interest environment, compelled us to undertake this early refinancing”, says Thomas Birtel, CEO of STRABAG SE.

Acting as facility agents were Deutsche Bank for the surety loan and Raiffeisen Bank International for the cash credit line.

Surety loans (bank guarantees) are indispensable in the construction sector. STRABAG makes these available to all subsidiaries which use them for general business activity. The cash credit line, on the other hand, allows the company to maintain a liquidity reserve, which can be used above all to balance out seasonal financing peaks, if necessary.

STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 73,000 employees allows us to generate an annual output volume of about € 14 billion. At the same time, a dense network of numerous subsidiaries in many European countries and, increasingly, on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com

CONTACT
Diana Neumüller-Klein, CFA
Head of Corporate Communications
Spokeswoman
STRABAG SE
Donau-City-Str. 9
1220 Vienna
Austria
Tel. +43 1 22422-1116
Fax +43 1 22422-1177
diana.klein@strabag.com

Comments are closed.