DGAP-News: SNP Schneider-Neureither & Partner AG / Key word(s): Financing/Bond
SNP | Corporate News
SNP AG issues borrower's note loan of EUR 40 million and calls in corporate bond
Heidelberg, February 21, 2017 - SNP Schneider-Neureither & Partner AG today reached agreement with investors on the issue of a borrower's note loan with a total volume of EUR 40 million. The volume is spread across fixed and variable tranches in terms of three to seven years. The current average yield across all tranches amounts to 1.41% p.a. Due to the high level of investor interest and the favorable financing conditions, the original target volume was extended by EUR 10 million to EUR 40 million. The issue was arranged by IKB Deutsche Industriebank AG.
As of today, the bearer bond (ISIN: DE000A14J6N4 / WKN: A14J6N) was also called prior to maturity effective as of March 27, 2017. In accordance with the bond conditions, the notice of redemption will be published in the German Federal Gazette and on the company's website. The bond with total amount issued of EUR 10 million (total nominal amount of up to EUR 20 million) will be fully redeemed at a price of 103% plus interest accrued until March 27, 2017.
SNP AG employs over 700 people across Europe, South Africa, Asia and the United States. Headquartered in Heidelberg, the company generated revenue based on preliminary figures of approximately EUR 80 million in 2016. Its customers include globally operating corporations in the industrial, financial and service sectors. SNP AG was founded in 1994 and has been publicly traded since 2000. As of August 2014, the company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0007203705).
Further information is available at www.snp-ag.com
Investor Relations Contact:
|Company:||SNP Schneider-Neureither & Partner AG|
|Dossenheimer Landstraße 100|
|Phone:||+49 6221 6425 637|
|Fax:||+49 6221 6425 470|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|