DGAP-News: freenet AG is optimizing the maturity structure of its debt, thus creating long-term financing certainty

freenet AG is optimizing the maturity structure of its debt, thus creating long-term financing certainty
 

- freenet AG is extending the maturity of the existing bank loan to 5 respectively 7 years; the volume of the bank loan will be increased by 200 million euros to 910 million euros
 

- Successful placing of a promissory note for 100 million euros with maturities of 5 and 7 years
 

- Repayment ahead of schedule of the bridge financing of 277 million euros falling due in January 2020
 

Büdelsdorf, 11 December 2018 - freenet AG has successfully extended its syndicated bank loan (in place since March 2016) until at least November 2023. By way of two extension options (one year in each case), the maturity could under ideal circumstances even be extended up to 7 years. The volume has been increased to 910 million euros, and consists of an amortizing loan of 610 million euros due upon final maturity and also a revolving credit facility of 300 million euros which has not yet been drawn down. Both tranches are still subject to variable interest. There have been no changes regarding the interest rates and the covenants. The maximum margin over the term of the loan is 1.90 per cent per annum. The transaction was arranged by Bayerische Landesbank, Commerzbank AG, Landesbank Baden-Württemberg as well as UniCredit Bank, and was placed entirely within the existing bank syndicate.
 

freenet AG has also successfully placed a promissory note, due upon final maturity, with 4 tranches for a total of 100 million euros. The transaction was carried out under standard market conditions, and was supported by DZ-Bank, Hessische Landesbank, Landesbank Baden-Württemberg and UniCredit Bank. The issue was taken up with an initial margin of 1.20 per cent for the 5-year-maturity tranches and with an initial margin of 1.30 per cent for the 7-year-maturity tranches. The initial margin might be reduced on the basis of a step-down mechanism.
 

The funds will be used to repay ahead of schedule the bridge financing of 277 million euros which has been in place since July 2018 and which is due upon final maturity in January 2020.
 

For further information, please go to: http://www.freenet-group.de/investor-relations.

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freenet Aktiengesellschaft
Investor Relations

Deelbögenkamp 4c
22297 Hamburg
Tel.: 040 / 513 06 778

Fax: 040 / 513 06 970

E-Mail: ir@freenet.ag