DGAP-News: EDAG Engineering Group AG: EDAG places promissory note loan in the amount of 120 million Euros

Arbon 09. July 2018

EDAG, a leading independent engineering services provider to the global automotive industry, has realigned its financing. By way of a promissory note loan (Schuldschein), 120 million Euros with maturities of five to ten years have been successfully placed. The funds obtained will be used to refinance existing liabilities at advantageous rates on the one hand, and to secure the further growth of the company on the other hand.

"The successful transaction shows the trust of investors in our company and the strategic focus of the EDAG Group as an innovative partner to the global automotive industry", says Juergen Vogt, CFO of the company. "We took advantage of the favourable environment at the loan market, in order to secure our financing for a longer period, and to significantly improve the maturity profile. We have now aligned our financing for the dynamic growth in the currently changing environment within the automotive industry."

The promissory note loan (Schuldschein) was placed with a broadly diversified group of investors in the German-speaking region. Landesbank Baden-Württemberg, Unicredit and Landesbank Hessen-Thüringen accompanied the transaction.

 

About EDAG

EDAG is an independent engineering services provider to the global automotive industry. The company serves leading domestic and international vehicle OEMs and sophisticated automotive suppliers through a global network of about 60 sites in major automotive centres of the world.

EDAG offers complementary engineering services across its Vehicle Engineering, Electrics/Electronics and Production Solutions businesses. Based on these extensive capabilities, EDAG can support clients across the entire value chain from the original design idea to product development and prototype construction all the way to the delivery of turnkey production systems. As a technology and innovation leader, EDAG also operates established centres of excellence that design landmark technologies for future applications in the automotive industry: lightweight construction, electric mobility, car IT, integral safety and new production technologies.

In financial year 2017, the company generated revenues of EUR 717 million and an adjusted EBIT of EUR 32.6 million. As at 31 December 2017, 8,404 employees (including apprentices) worked for EDAG in 19 countries.

Contacts:
 

Investor Relations
Sebastian Lehmann
Head of Investor Relations
Phone: +49 (0) 611- 7375 168
Mail: ir@edag-group.ag
ir.edag.de

 

Public Relations
Christoph Horvath
Press Officer EDAG Group
Phone: +49 (0) 661- 6000 570
Mail: pr@edag.de
www.edag.de