EANS-News: freenet AG freenet AG successfully places promissory notes
totalling 120 million euros
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Company Information
Büdelsdorf (euro adhoc) - freenet AG successfully places promissory notes
totalling 120 million euros
- freenet AG takes advantage of favourable market environment to further
optimise its financing structure
- Three tranches with 5- and 7-year maturities
Büdelsdorf, 18 December 2012 - freenet AG has successfully placed a
120-million-euro promissory note in three tranches.
The promissory notes, underwritten by Commerzbank Aktiengesellschaft, Landesbank
Baden-Württemberg and Landesbank Hessen-Thüringen Girozentrale, were broadly
marketed, mainly to German institutional investors. The long-term bonded loan is
divided into a five-year fixed tranche of 44.5 million euros, a five-year
variable tranche of 56 million euros and a seven-year fixed tranche of 19.5
million euros. The entire volume was subscribed at the lower end of the
respective marketing range with a fixed coupon of 3.27% p.a. for the fixed
5-year tranche, a floating coupon of 2.82% p.a. for the first six months of the
variable 5-year tranche and 4.14% p.a. for the fixed 7-year tranche.
"By issuing the promissory note we have secured new outside capital at
attractive terms, in order to further diversify our financing structure beyond
the maturing of our corporate bond in April 2016," says Joachim Preisig, CFO of
freenet AG. "We regard the great interest in our promissory notes as an evidence
of investors' confidence in our improved creditworthiness and our cash flow
strong business model."
The company's other financial instruments consist of a corporate bond of 400
million euros that matures in 2016, a syndicated term loan of currently over 120
million euros maturing in March 2014 and semi-annual instalments totalling 40
million euros, and a revolving credit facility of 100 million euros maturing in
March 2015.
Further inquiry note:
freenet AG
Investor Relations
Tel.: +49 (0)40 513 06-778
E-Mail: ir@freenet.ag
end of announcement euro adhoc
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company: freenet AG
Hollerstraße 126
D-24782 Büdelsdorf
phone: +49 (0)4331 691000
mail: ir@freenet.ag
WWW: http://www.freenet-group.de
sector: Telecommunications
ISIN: DE000A0Z2ZZ5
indexes: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share,
Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English