(The following press release from Techem was received by e-mail. The
sender verified the statement.)
Techem successfully closes credit facility repricing
· All lenders approve 50 bps interest rate reduction for EUR 450 million term
· Process completed within one week after amendment request had been submitted
Eschborn. Techem, a leading global provider of energy billing and energy
management services, announced that today it successfully closed a repricing of
its EUR 450 million term facility which will reduce its interest costs. All
lenders have approved the amendment to cut the current interest margin by 50
bps on the existing EUR 450 million term facility. All other terms and
conditions, including covenants and final maturity, remain unchanged. The
unanimous approval was received within a week after the proposal was made.
The company had launched the repricing following a strengthening of the general
credit market environment and the very strong secondary market performance of
its inaugural notes offering in September 2012.
"We are very pleased that we successfully reduced our annual interest costs
further at very competitive terms. Also, we are very happy to see our amendment
was achieved so quickly within the existing syndicate allowing us to maintain
the strong incumbent relationship with our lenders. Together, this is a strong
affirmation of our continued partnership with and support by our lenders,"
commented Steffen Baetjer, CFO of Techem.
JP Morgan acted as Global Coordinator and Bookrunner and Credit Agricole,
Commerzbank,Deutsche Bank, Royal Bank of Scotland and UniCredit acted as
Mandated Lead Arrangers. Rothschild was Financial Advisor to Techem.
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