KION GROUP AG, DE000KGX8881

KION GROUP AG, DE000KGX8881

21.02.2017 - 09:02:18

KION Group successfully issues promissory notes with a volume of around EUR1 billion

Proceeds of EUR958 million for refinancing the Dematic acquisition Maturity periods of five, seven, and ten years; fixed and floating-rate coupons CFO Toepfer: "We have made full use of the favorable interest rate environment and significantly improved the maturity profile of our financing"

Wiesbaden, February 21, 2017 - The KION Group has successfully issued its first promissory notes. The proceeds of around EUR1 billion are used for the refinancing of the bridge loan that the Company had obtained from its core group of banks for the acquisition of Dematic, a specialist in automation and supply chain optimization. The promissory notes, which have a volume of EUR958 million, are divided into tranches with maturities of five, seven, and ten years with fixed and floating-rate coupons.

"By issuing the promissory notes very soon after the acquisition of Dematic, we have made full use of the favorable interest rate environment in order to refinance a substantial part of the acquisition financing," said the KION Group's Chief Financial Officer, Thomas Toepfer. "By issuing the promissory notes in an attractive market environment and thereby also significantly extending the maturity profile of KION's financing, the KION Group again demonstrates its conservative financing policy."

The KION Group initially financed the purchase of Dematic with a bridge loan of EUR3 billion. This was then reduced by the gross proceeds of approximately EUR459 million from a capital increase in July 2016.

The acquisition of Dematic has made the KION Group a leading global provider of supply chain solutions with a unique and comprehensive portfolio of products ranging from forklift trucks to fully automated material handling systems. The Group is therefore ideally positioned to benefit from the attractive and profitable growth that is being driven by megatrends such as Industry 4.0, digitalization, and e-commerce.

Website: kiongroup.com/mediasite

Twitter: @kion_group

The Company

The KION Group is a global leader in industrial trucks, related services, and supply chain solutions. Across more than 100 countries worldwide, the KION Group designs, builds and supports logistics solutions that optimize material and information flow within factories, warehouses and distribution centres. The company is the largest manufacturer of industrial trucks in Europe, the second-largest producer of forklifts globally, and a leading provider of warehouse automation.

The KION Group's world-renowned brands are clear industry leaders. Dematic, the newest addition to the KION Group, is a global leader in automated material handling providing a comprehensive range of intelligent supply chain and automation solutions. Egemin Automation is a leading logistics automation specialist with a particular strength in AGVs. The Linde and STILL brands serve the premium industrial truck segment. Baoli focuses on industrial trucks in the economy segment. Among its regional industrial truck brands, Fenwick is the largest supplier of material handling products in France, OM STILL is a market leader in Italy, and Voltas is a leading provider of industrial trucks in India.

With a global installed base of more than 1.2 million industrial trucks and over 6,000 installed systems, KION Group's customer base includes companies in all industries and of all sizes on six continents. The company's 30,000 dedicated and highly skilled employees generated more than EUR6.7 billion in pro-forma revenue for the calendar year 2015.

Disclaimer

This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.

This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of technical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. We do not undertake any responsibility to update the forward-looking statements in this release.

Further information for the media

Michael Hauger Head of Corporate Communications Tel.: +49 (0)611 770 655 Mobile: +49 (0)151 16 86 55 50michael.hauger@kiongroup.com

Frank Brandmaier Head of Corporate Media Relations Tel.: +49 (0)611 770 752frank.brandmaier@kiongroup.com

Further information for investors

Dr Karoline Jung-Senssfelder Head of Investor Relations and M&A Tel.: +49 (0)611 770 450karoline.jung-senssfelder@kiongroup.com

 

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21.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: KION GROUP AG Abraham-Lincoln-Str. 21 65189 Wiesbaden

Germany Phone: +49 (0)611 770-0 Fax: +49 (0)611 770-690 E-mail: info@kiongroup.com Internet: www.kiongroup.com ISIN: DE000KGX8881 WKN: KGX888 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange   End of News DGAP News Service

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