KUKA syndicated loan successfully refinanced and extended

Augsburg, 2 April 2015. KUKA AG successfully concluded the refinancing of its syndicated loan today. The volume of the new syndicated loan has been increased to € 230 million. The loan has a term of 5 years with two one-year extension options.

02 April 2015

KUKA AG has prematurely refinanced the syndicated loan that it concluded in December 2013. The new contract provides for a surety and guarantee line in the amount of € 140 million and a working capital line, which can also be used for sureties and guarantees, in the amount of € 90 million. This results in a volume € 70 million higher than with the previous contract. In addition, structural contract adaptations have been made. Both measures are attributable to the integration of Swisslog Holding AG and its subsidiaries, in which a majority stake was acquired in December 2014. Moreover, it was possible to benefit from the improved market situation to obtain significantly improved terms.

The two arrangers, Commerzbank and Deutsche Bank, placed the new loan amongst the previous consortium banks of KUKA. One of Swisslog’s consortium banks was won as an additional banking partner. KUKA was highly satisfied with the progress and outcome of the refinancing. KUKA CFO Peter Mohnen said: “This refinancing expands the financial basis for KUKA’s further growth. We are delighted about this renewed vote of confidence from our banking partners.”

The new credit facility will be used for general corporate financing purposes. In particular, it provides the surety and guarantee lines for the operative business of KUKA and Swisslog.

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