ERJ staff report (LMH)
Vienna -- Semperit AG Holding has successfully placed a corporate Schuldschein loan in the amount of €125 million, with a weighted average interest rate of 2.35%.
The proceeds will be used to refinance liabilities incurred in connection with the acquisition of Latexx Partners, Malaysia, in 2012. In addition, the cash inflow will also be used to implement the on-going growth programme of the Semperit Group, the company, which makes industrial products such as gloves and conveyor belts, said.
“The issuing of the corporate Schuldschein loan represents an important step towards the diversification and further optimisation of the Group’s financing. By issuing the Schuldschein we are taking advantage of the on-going attractive interest rate level, especially with respect to the long tenures, and are thus preparing for further growth steps,” said Johannes Schmidt-Schultes, Chief Financial Officer of Semperit.