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Heidelberg Optimizes Financing Structure

New credit line that runs till 2023 creates flexibility and long-term planning.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Heidelberger Druckmaschinen AG (Heidelberg) has further optimized its financing structure and agreed a new syndicated credit line with improved conditions with its banking group. By taking out the credit line with a higher total of €320 million and a term that runs till March 2023, the company is creating financial flexibility and longer-term planning certainty.
 
Besides supporting the day-to-day operational business of the global organization, the new credit facility underpins the strategy of further expanding new digital business models, such as the newly established subscription portfolio.
 
“This refinancing is another sign of the banks’ confidence in our strategic roadmap to a digital future,” said Dirk Kaliebe, CFO of Heidelberg. “The financial basis for our new digital technologies and business models has been secured for the long term. We have numerous options at our disposal for driving forward our growth strategy. At the same time, we are able to further reduce interest costs by optimizing the financial framework.”
 
The new credit line also gives Heidelberg more flexibility to pay off a proportion of the existing 8% bond due in 2022 ahead of time and under more advantageous conditions. Heidelberg is planning to reduce its financing interest by close to half to around €20 million in the medium term.



Source: Heidelberg.

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