Bastei Lübbe AG: Repayment of the 2011/16 corporate bond concluded on schedule
DGAP-News: Bastei Lübbe AG / Key word(s): Miscellaneous
Bastei Lübbe AG: Repayment of the 2011/16 corporate bond
Cologne, 27 October 2016. Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, repaid the 2011/2016 corporate bond (ISIN DE000A1K0169) on schedule on 26 October 2016. The bond issued in October 2011 had an interest coupon of 6.75 % per year and a total nominal value of EUR 30 million. This total nominal value plus a final interest payment of EUR 2.025 million was transferred to the creditors on the due date.
To repay the bond, Bastei Lübbe AG had already concluded a syndicated loan agreement with a total volume of EUR 33 million with a renowned banking syndicate in October 2015, which has since been topped up to EUR 53 million as a result of the acquisition of BuchPartner GmbH and the publishing label LYX and in order to pre-finance book titles from renowned authors.
Despite the higher level of financing, from the 2017/2018 financial year the new financing structure will result in considerable annual interest savings for Bastei Lübbe AG. On a comparative basis of the former bond, there is an interest saving of over EUR 1 million.
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2016-10-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Bastei Lübbe AG|
|Schanzenstraße 6 - 20|
|Phone:||02 21 / 82 00 - 0|
|Fax:||02 21 / 82 00 - 1900|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|