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WITTUR HOLDING GMBH (FRA:XS118802) Wittur Group intends to refinance its existing debt capital structure

Directive transparence : information réglementée

09/09/2019 13:06

DGAP-News: Wittur Holding GmbH / Key word(s): Bond/Financing
Wittur Group intends to refinance its existing debt capital structure

09.09.2019 / 13:06
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Wittur Group intends to refinance its existing debt capital structure

Wiedenzhausen, September 9, 2019 - The Wittur Group, one of the world's leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products, announced today that it intends to refinance and extend the maturity of its existing debt capital structure.

In connection with the refinancing, the Wittur Group intends to refinance its existing term loan B facility and repay a portion of the amounts drawn under its revolving credit facility with a new EUR 530 million term loan B facility with a 7 year maturity. The existing EUR 90 million revolving credit facility will be refinanced and extended with a new 6.5 year maturity.

The Wittur Group also intends to redeem its existing EUR 225 million of senior notes (ISIN: XS1188024548, XS1188025438) with a new, privately-placed second lien instrument with an 8-year maturity in connection with the refinancing.

Wittur is seeking to refinance its existing debt in the context of strong trading performance driven by a strong product offering and supportive market fundamentals. The Wittur Group generated revenues of EUR 798.3 million for twelve months ended 30 June 2019. EBITDA Adjusted for the twelve months ended 30 June 2019 was EUR 120.1 million.

The refinancing is subject to market conditions and has not been committed. As such, the terms of the refinancing have not yet been finalised and the refinancing may not occur on the terms described above, or at all.

A conference call for investors and analysts will take place on September 10, 2019 at 3 p.m. UK time / 4 p.m. CEST. The dial-in details will follow separately.

About Wittur
Founded in 1968, Wittur is one of the world's leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabins and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars.

The Wittur Group has a workforce of around 4,700 employees and conducts business in more than 50 countries. It is majority owned by funds managed by Bain Capital Private Equity.
For more information on the company, please visit www.wittur.com.

Investor Relations Contact
Roman Istanbuli
Wittur Holding GmbH
Rohrbachstraße 26-30
85259 Wiedenzhausen | Germany
Phone: +49(81 34) 18 - 136
Mail: roman.istanbuli@wittur.com



09.09.2019 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.

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Language: English
Company: Wittur Holding GmbH
Rohrbachstraße 26-30
80259 Wiedenzhausen
Germany
Phone: +49 (0)8134 18 - 0
Fax: +49 (0)8134 18 - 49
E-mail: info@wittur.com
Internet: www.wittur.com
ISIN: XS1188024548
WKN: A14J5R
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart
EQS News ID: 868621

 
End of News DGAP News Service

868621  09.09.2019 

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