27.07.2020 - 06:00 Uhr

freenet AG successfully places a promissory note loan amounting to 345.0 million euros

  • Despite the difficult market environment caused by Corona, freenet AG places a promissory note loan above the initially announced 300.0 million euros
  • Funds are used to refinance the maturing promissory note loans

Büdelsdorf, 27 July 2020 - freenet AG [ISIN DE000A0Z2ZZ5] has successfully placed a promissory note loan with a total volume of 345.0 million euros to refinance maturing promissory notes. The placement was carried out by the Joint Lead Managers Bayerische Landesbank, Norddeutsche Landesbank, Landesbank Baden-Württemberg and UniCredit Bank with a widely diversified group of institutional investors in Germany and abroad.

The financing instrument with final maturity consists of three tranches with a 3.5-year, a 5-year and a 6-year maturity. The 3.5-year tranche of EUR 166.5 million bears interest at an initial margin of 1.50 percent p.a., while the 5-year tranche of EUR 168.5 million has an initial margin of 1.70 percent p.a. The 6-year tranche of EUR 10.0 million bears interest at an initial margin of 1.90 percent p.a. The entire volume was subscribed at the lower end of the marketing margin. Based on a step-down mechanism linked to leverage, the initial margin is expected to decrease by 0.30 percentage points over the course. The inflowing funds will be directly offset against due or redeemable tranches.

“In a still uncertain capital market environment, we were able to score with our stable business model and raise more than the targeted volume at a very attractive interest rate level. As a result of this transaction, our financial situation has eased sustainably. We therefore confirm with even more confidence our dividend policy, which was already confirmed in the first quarter of 2020 and which provides for a payout of at least 80 percent of free cash flow,” says Ingo Arnold, CFO of the freenet Group.

 

Contact

 

Investor Relations

freenet Group

Tel.: +49 (0) 40 / 513 06 778

Mail: ir@freenet.ag

https://www.freenet-group.de/en/index.html



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