Ströer Media AG completes successful refinancing with improved terms.

Ströer Media AG completes successful refinancing with improved terms.

The company reduces its capital costs for 2015 by more than 75 percent compared to 2010.

Cologne, 11th april 2014 – Ströer Media AG has successfully completed an early refinancing of its existing credit lines. The financing package worth a total of 500 million EUR over a five-year period was provided by a syndicate of international banks led by Coordinators and Joint Bookrunners Commerzbank and SEB and by Joint Bookrunners Crédit Agricole, ING, Deutsche Bank and HSBC Trinkaus & Burkhardt AG to refinance the existing syndicated facilities. In addition to the existing long-term relationship banks, new banks could also be acquired into the syndicate.

On the basis of this stable long-term financing, Ströer Media AG is in an excellent position to finance future growth projects. The company will especially be able to further reduce its capital costs. Compared to 2010, the company expects their interest burden to be reduced by more than 75 percent in 2015, a saving of a double-digit million Euros amount. This is attributable to two refinancings carried out, expired interest rate derivatives and the general interest rate market development .

Ströer was advised on the refinancing by the independent debt advisor Herter & Co..

“The great interest shown by the banks for our financing demonstrates the confidence of the financial markets in our sustainable business model. With the refinancing of our loans, we can further increase the profitability of our company and thus lay a solid foundation for a successful future”, says Udo Müller, CEO of Ströer Media AG.”