Consortium of 14 banks led by Deutsche Bank and Raiffeisen Bank International
Sureties (bank guaranties) used within scope of general business activities
Vienna, 16 June 2014----The publicly listed construction group STRABAG SE has concluded the renewal of a syndicated surety loan (SynLoan) with a consortium of 14 international banks led by Deutsche Bank and Raiffeisen Bank International (RBI). Further bookrunners and mandated lead arrangers are Baden-Württembergische Bank, Bayerische Landesbank, Commerzbank, Crédit Agricole Corporate and Investment Bank, ING Bank, a branch of ING-DiBa AG, SEB AG and UniCredit.
The volume of the surety loan amounts to € 2.0 billion. The credit range replaces the previous line in the same amount. The line of credit will be available to all STRABAG subsidiaries for sureties (bank guarantees) within the scope of exercising the general business activity. The new term is for 5 years with two extension options of one year each.
Thomas Birtel, CEO of STRABAG SE, is pleased with the good response to the new SynLoan: “Surety loans are indispensable for our day-to-day business. It is therefore only natural for us to build on the partnership and trust of our house banks for the new loan. The new surety loan covers a large portion of our business at long-term secured conditions."
STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machines at the right place and at the right time in order to realise even the most complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 73,000 employees allows us to generate an annual output volume of about € 14 billion. At the same time, a dense network of numerous subsidiaries in many European countries and, increasingly, on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com.
