Bastei Lübbe AG: Favourable refinancing opportunity seized: Bastei Lübbe AG secures attractive financing conditions for future corporate growth

DGAP-News: Bastei Lübbe AG / Key word(s): Financing

2015-10-05 / 09:00

Favourable refinancing opportunity seized: Bastei Lübbe AG secures attractive financing conditions for future corporate growth

Cologne, 5 October 2015. Bastei Lübbe AG (ISIN: DE000A1X3YY0) has leveraged the positive market environment for a strategic repositioning of its Group financing and, at the same time, expanded the framework for additional growth. The Cologne company concluded a syndicated loan for a total volume of EUR 33 million with a renowned syndicate consisting of Commerzbank (book runner), Deutsche Bank and Sparkasse KölnBonn. Bastei Lübbe also secured an option for a further EUR 10 million for possible acquisitions and strategic investments.

The syndicated loan has a term of six years. The company will use the loan for items such as paying back its 11/16 corporate bond of EUR 30 million that matures in October 2016. The renegotiated financing solution entails a highly positive interest effect. Interest expenses are expected to be reduced by around EUR 0.75 million in the 2016/2017 financial year and provisionally by around EUR 1.5 million from the 2017/2018 financial year.

Thomas Schierack, CEO of Bastei Lübbe AG, is extremely pleased with the refinancing: "Receiving a syndicated loan of this amount at these favourable conditions is very strong evidence of our excellent credit standing, and is a validation of our work. We are delighted to have already secured the repayment of the loan for 2016 by concluding this financing agreement, and to be able to boost our liquidity reserves at attractive conditions for ongoing growth in the years ahead."

About Bastei Lübbe AG:
Bastei Lübbe AG is a media company in the form of a publishing house. With its headquarters in Cologne, the company has around 437 employees across the group. Bastei Lübbe publishes books, audio books, ebooks and digital products with fiction and popular science content, as well as periodical magazines in the form of novel booklets and puzzle magazines. Bastei Lübbe's business activities also include the licensing of rights and the development, production and sale of gift goods, decorative goods and merchandising articles. Bastei Lübbe has been the market leader in the growing hardcover fiction segment for many years, almost completely unchallenged, and was also number 1 in 2013 in the fiction ebooks segment. In 2013, Bastei Lübbe AG celebrated their 60th anniversary and went public. Bastei Lübbe AG shares are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0).

Contact Bastei Lübbe AG:
Barbara Fischer
Head of Press and
Event Marketing
Tel.: +49 (0) 221 / 82 00 28 50
E-mail: barbara.fischer@luebbe.de

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