Evonik agrees new €1.5 billion credit facility
Essen. Evonik Industries AG successfully completed the refinancing of its present €2.25 billion credit facility on June 8th, 2010. The total volume of the new facility has been reduced to €1.5 billion thanks to the cash inflow from the placement of a €750 million bond in October 2009. The new credit facility comprises three €500 million tranches, running for two, three and five years respectively.
This unsecured credit line provides general financing for the Evonik Group’s business and forms an integral part of its financing strategy. Together with the Group’s liquid funds, it provides the necessary
financial leeway and represents a key element in the financing of the Evonik Group.
The credit facility was heavily oversubscribed. "The success of this transaction is further evidence of Evonik’s strength on the debt market," comments Evonik’s Chief Financial Officer Dr. Wolfgang Colberg. The syndicate comprises 25 German and international banks and underscores the confidence placed in Evonik as a global corporation.
Mandated Lead Arranger and Bookrunner:
BANK OF AMERICA MERRILL LYNCH, Barclays Capital, BayernLB, BNP Paribas S.A. - Niederlassung Frankfurt am Main, CITI, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank Deutschland, Deutsche Bank AG, DZ BANK AG Deutsche Zentral-Genossenschaftsbank Frankfurt/ Main, HSBC Bank Plc, J.P. Morgan plc, Mizuho Corporate Bank Ltd., MORGAN STANLEY, SOCIETE GENERALE, The Royal Bank of Scotland N.V. Niederlassung Deutschland, UniCredit Group
und WestLB AG.
BANCO BILBAO VIZCAYA ARGENTARIA S.A., Credit Suisse, INTESA SANPAOLO S.p.A. Frankfurt Branch, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen GZ, MEDIOBANCA, STANDARD
CHARTERED BANK, WGZ BANK.
Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company’s performance is shaped by creativity, specialization, continuous self-renewal, and
Evonik is active in over 100 countries around the world. In its fiscal year 2009
about 39,000 employees generated sales of about €13.1 billion and an operating
profit (EBITDA) of about €2.0 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.