K+S : renews syndicated credit facility early

7 May 2019

Liquidity of almost € 1 billion secured

K+S Aktiengesellschaft has secured liquidity totaling € 960 million through the early refinancing of its existing syndicated credit facility. The previous credit line of € 1 billion, which was due to expire in July 2020, was renewed at favorable conditions with a volume of € 800 million. Additionally, a bullet loan in the amount of € 160 million was arranged. In both cases, the contractual term is five years.

The funds made available will be used in part for refinancing financial liabilities which are due, and general corporate purposes.

'The successful placement at favorable conditions proves that financial markets have great confidence in the path we have taken,' emphasizes Thorsten Boeckers, CFO of K+S Aktiengesellschaft. 'This year, for the first time since 2013, we want to generate a positive free cashflow again. In addition, we are continuing to make good progress in halving our indebtedness by the end of 2020 as planned'.

The credit line has been placed by 12 international banks under the management of DZ Bank, Helaba and LBBW.

About K+S

K+S is a customer-focused, independent minerals company for the Agriculture, Industry, Consumers, and Communities segments and wants to grow the EBITDA to € 3 billion by 2030. Our approximately 15,000 employees enable farmers to provide nutrition for the world, solutions that keep industries going, improve daily life for consumers and provide safety in winter. We continually meet the growing demand for mineral products from production sites in Europe, North and South America as well as a worldwide sales network. We strive for sustainability because we are deeply committed to our responsibilities to people, environment, communities and economy in the regions in which we operate. Learn more about K+S at www.k-plus-s.com.

Downloads