Investor Relations News
Evonik signs new syndicated credit facility totaling €1.75 billion
Evonik Industries AG refinanced its existing syndicated credit facility with a group of 18 banks securing improved conditions. The new credit facility with an unchanged volume of €1.75 billion has a term of 5 years with the option of two extensions of one year each and will end in 2024 at the latest.
The credit facility serves the Group’s central liquidity reserve. With this refinancing, Evonik is benefitting from the current positive market environment for companies with a solid investment grade rating, securing financial flexibility and independence for the coming years.
Ute Wolf, Chief Financial Officer at Evonik, says: “All invited banks decided to participate in the financing. This underlines the banking sector’s trust in Evonik as a long-term and reliable partner.”
Peter Schallenberg, head of Finance at Evonik, adds: “With the refinancing, we made use of the current good market environment, securing our central liquidity reserve in the long term.”
A total of 18 banks from Germany (6), the U.S. (4), Great Britain (2), France (2), Japan, China, Italy, and Switzerland (1 each) participated in the financing.
Mandated Lead Arrangers & Bookrunners:
Bank of America Merrill Lynch, Barclays, BayernLB, BNP Paribas, Citi, Commerzbank, Credit Suisse, Deutsche Bank, DZ Bank, Goldman Sachs, ICBC, Landesbank Hessen-Thüringen GZ, HSBC, J.P. Morgan, Landesbank Baden-Württemberg, Mizuho, Société Générale, UniCredit.
The transaction was prepared and led by Commerzbank as the coordinating bank.
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions.
Evonik is active in over 100 countries around the world with more than 35,000 employees. In fiscal 2016, the enterprise generated sales of around €12.7 billion and an operating profit (adjusted EBITDA) of about €2.165 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.