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    CEC   DE0007257503

CECONOMY AG

(CEC)
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CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities

07/30/2021 | 10:02am EDT

DGAP-News: CECONOMY AG / Key word(s): Financing
CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities

30.07.2021 / 16:00
The issuer is solely responsible for the content of this announcement.


CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities

Düsseldorf, 30 July 2021 - CECONOMY AG ("CECONOMY") has settled its post-pandemic financing structure with the termination of its syndicated revolving loan agreement with the participation of KfW and implementation of its new ESG-linked syndicated revolving credit facilities. The ?1.7 billion loan facility of the existing syndicated loan agreement with the participation of KfW was concluded in mid-May 2020 during the first wave of the COVID-19 pandemic and complemented CECONOMY's existing credit facilities of ?980 million at that time. It purely served as a back-up line and was never drawn.

The company had already laid the foundation for its long-term post-pandemic financing structure in May of this year with the signing of new ESG-linked syndicated revolving credit facilities in the amount of ?1.06 billion. The new facilities have a diverse maturity profile and are split into an initial five-year tranche with a volume of ?707 million and an initial three-year tranche with a volume of ?353 million. In addition, CECONOMY issued an inaugural ?500 million 5-year senior unsecured bond in June of this year, thereby further enhancing its long-term financing structure.

Following the recent issuance of the 5-year senior unsecured bond, CECONOMY now concludes its post-pandemic financing structure with the implementation of the new ESG-linked syndicated revolving credit facilities. The new structure underpins CECONOMY's continued prudent financial policy, which still allows the company to cover liquidity needs even in extraordinary times.

 

 

About CECONOMY

CECONOMY AG empowers life in the digital world. It is leading for concepts and brands in the field of consumer electronics. The companies in the current CECONOMY portfolio have billions of consumer contacts per year and provide products, services and solutions that make life in the digital world easy and enjoyable, creating value for consumers and shareholders alike.

Contact

CECONOMY AG
Kaistr. 3
40221 Düsseldorf, Germany

Investor Relations

Telephone +49 (0) 211 5408-7222
Email IR@ceconomy.de

Creditor Relations

Telephone +49 (0) 211 5408-7245
Email creditor-relations@ceconomy.de

Communications, Public Policy & Sustainability

Telephone +49 (0) 151 5822-4202
Email presse@ceconomy.de

 



30.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: CECONOMY AG
Kaistr. 3
40221 Düsseldorf
Germany
Phone: +49 (0)211 5408-7225
Fax: +49 (0)211 5408-7005
E-mail: stephanie.ritschel@ceconomy.de
Internet: www.ceconomy.de
ISIN: DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/
WKN: 725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1223143

 
End of News DGAP News Service

1223143  30.07.2021 

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© EQS 2021
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