STRABAG SE prematurely extends € 400 million syndicated cash credit line
Term of at least five years
Comfortable liquidity position remains secure for the long term
Vienna, 26 June 2014----In view of a favourable financing environment, the publicly listed European-based construction company STRABAG SE has prematurely extended its revolving syndicated cash credit line in the amount of € 400 million. The group had initially arranged the cash credit line in 2012 with an original maturity in 2017. With the new term of five years, including two options to extend by one year each, STRABAG SE remains capable of securing its comfortable liquidity position for the long term.
The syndicated cash credit line, which may be used in particular to balance out occasional peaks in financing needs over the course of the year, allows the company to maintain a liquidity reserve. “The extension of the credit line brings long-term financing security. We see this as confirmation of the banks’ trust in our group,” says Thomas Birtel, CEO of STRABAG SE.
The bank consortium is unchanged with Bayerische Landesbank, Commerzbank, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, Deutsche Postbank International, Landesbank Baden-Württemberg, SEB, UniCredit and Raiffeisen Bank International as facility agent.
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.
