ALTANA extends €250 Million Credit Facility

(PresseBox) (Wesel, ) The specialty chemicals company ALTANA AG has successfully adjusted and extended a syndicated line of credit in the amount of €250 million. The credit facility can be increased at any time. It will be used for general corporate purposes and gives the company financial flexibility for the upcoming years. The facility was concluded in 2012.

The extended facility has a term of five years with extension options for a total of two additional years. The initial margin of the revolving credit facility is set at 40 basis points over EURIBOR. The documentation requirements vis-à-vis the banks were once again reduced due to the sound financial situation of ALTANA.

Seven banks participate in the syndicated loan. These banks are Commerzbank, Deutsche Bank, JP Morgan, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen, Mizuho, and UniCredit. The transaction was coordinated by Commerzbank.

Alongside the promissory note loans (German Schuldscheine) amounting to a total of €350 million, which were successfully placed on the market in March 2012 and November 2013, the new credit line is an essential component of ALTANA AG's financing structure and helps ensure the company's flexibility for further growth in the future.


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