DGAP-News: KION Group successfully improves debt maturity profile

2012-07-05

KION Group successfully improves debt maturity profile

  • Amendment of senior facility agreement successfully completed
  • Strong support for maturity extension of term loans to December 2017

Wiesbaden, 5 July 2012: The KION Group, one of the two leading global manufacturers of forklift trucks and warehouse equipment, has successfully completed the amendment and extension of its senior debt facilities. Lenders have agreed to the commercial and technical amendments and documentary changes which the company had proposed on 8 June 2012. The amendments will formally become effective in the coming weeks.

KION Group has also successfully extended well in excess of EUR1 billion of its existing credit facilities. Extended credit facilities include a substantial proportion of the revolving credit facilities from December 2013 to December 2016 and a substantial proportion of its existing term loan B and C commitments from December 2014 (TLB) and December 2015 (TLC) to December 2017.

Harald Pinger, CFO of KION Group, commented: 'I am very satisfied with the broad support our amendment and extension offer has received among lenders. We have significantly improved and rebalanced the maturity profile of our senior debt facilities. This provides KION with additional long-term financial security'.

The Company
The KION Group - comprising the six brands Linde, STILL, Fenwick, OM STILL, Baoli and Voltas - is Europe's market leader in industrial trucks, the global number two in the industry and the leading international supplier in China. The Linde and STILL brands serve the premium segment worldwide. Fenwick is the largest supplier of material-handling products in France, while OM STILL is a market leader in Italy. The Baoli brand focuses on the economy segment, and Voltas is one of the two market leaders in India. The KION Group employed roughly 22,000 people and generated revenue of around EUR4.4 billion in 2011.

Disclaimer
This press release contains forward-looking statements involving known and unknown risks, uncertainties and other factors, many of which are outside the control of the KION Group ('KION'), are difficult to predict and may cause future developments to differ significantly from assumed developments as expressed or implied in the forward-looking statements in this press release.
Any liability (including in respect of direct, indirect or consequential loss or damage) of any member of KION with a view to the information contained in this press release is expressly disclaimed. This press release does not purport to contain all of the information that may be required to evaluate any proposed transaction, and any recipient hereof should seek its own legal, accounting and other relevant professional advice.
No member of KION undertakes any obligation or expects to update or revise this press release, including forward-looking statements or any other information contained herein, whether as a result of new information, future events or otherwise.


For further information please contact
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
Email: michael.hauger@kiongroup.com

Contact

Contact

Michael Hauger

Senior Vice President Corporate Communications

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Frank Grodzki

Senior Director Corporate External Communications & Group Newsroom

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