SIEMENS HEALTHINEERS AG
DGAP Related Party Transactions announcement: Siemens Healthineers AG
/ Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
Disclosure of material transactions with related parties in accordance with section 111c AktG
1. A USD 1,247,450,000 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., bearing interest at a fixed rate of 0.5830% per annum and due for repayment at maturity on March 11, 2023. 2. A USD 1,497,090,000 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., bearing interest at a fixed rate of 0.7961% per annum and due for repayment at maturity on March 11, 2024. 3. A USD 1,742,090,000 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., bearing interest at a fixed rate of 1.3763% per annum and due for repayment at maturity on March 11, 2026. 4. A USD 1,242,862,500 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., bearing interest at a fixed rate of 1.8718% per annum and due for repayment at maturity on March 11, 2028. 5. A USD 1,739,780,000 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., bearing interest at a fixed rate of 2.3014% per annum and due for repayment at maturity on March 11, 2031. 6. A USD 1,486,095,000 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., bearing interest at a fixed rate of 3.0287% per annum and due for repayment at maturity on March 11, 2041. 7. A USD 998,300,000 term loan facility agreement between Siemens Healthineers AG and Siemens Finance B.V., due for repayment at maturity on March 11, 2024, bearing interest at a floating rate which is the compounded Secured Overnight Financing Rate (SOFR) plus a margin of 0.5675% per annum. The variable interest rate cannot fall below 0.0000% per annum. Siemens Healthcare GmbH has taken note of the provisions regarding the payment mechanism in the above term loan facility agreements and has agreed to these vis-à-vis Siemens Healthineers AG. In the opinion of the Managing Board of Siemens Healthineers AG and the management of Siemens Healthcare GmbH, the Siemens Healthineers Group could not have concluded financing transactions in the capital market at more favorable terms. The interest rate payable under the term loan facilities set out in paragraphs 1. to 7. above is in each case composed of a market interest rate to be paid by Siemens AG in the capital market plus a margin which takes into account, on the one hand, the creditworthiness of Siemens Healthineers AG differing from Siemens AG and, on the other hand, the implementation costs of Siemens Finance B.V. over the term of the term loan facility. By resolution dated July 31, 2020, the responsible Supervisory Board committee approved in principle financing transactions in connection with the acquisition of Varian. On February 23, 2021, the responsible Supervisory Board committee approved the above transactions specifically. Prior to the afore-mentioned transactions, an agreement for management consulting services with a contract volume of EUR 6 million was concluded between Siemens Healthineers AG and Siemens AG (Advanta business unit, "Siemens Advanta") on November 23, 2020. The agreement provides for a term of eleven months with an option to extend. Siemens Advanta advises on the project planning and, after closing of the transaction, on the subsequent integration of Varian into the Siemens Healthineers Group. The terms of the agreement are in line with the market: Prior to the engagement, a tender for the consulting services took place, in which Siemens Advanta prevailed over other providers due to more favorable terms and the fact that Siemens Advanta is already very familiar with the processes in place at Siemens Healthineers, resulting in efficiencies.
04.03.2021 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Siemens Healthineers AG |
| Henkestr. 127 | |
| 91052 Erlangen | |
| Germany | |
| Internet: | https://www.corporate.siemens-healthineers.com |
| End of News | DGAP News Service |
1173337 04.03.2021
