Trelleborg provides update on TrelleborgVibracoustic: Long-term independent financing secured
TrelleborgVibracoustic has secured a EUR 220 M and USD 75 M syndicated revolving credit facility with a five-year tenor. The facility is fully standalone and thus without recourse to the shareholders of TrelleborgVibracoustic. The facility is provided by a broad syndicate of leading banks. BNP Paribas, DNB and Landesbank Baden-Württemberg acted as coordinating bookrunners and mandated lead arrangers.
The credit facility will form the cornerstone of TrelleborgVibracoustic’s future debt financing, providing flexibility in respect of the company’s upcoming funding needs and acting as a liquidity reserve. Overall, the facility represents an important final step in operationalizing TrelleborgVibracoustic as an independent global industrial player.
A maiden drawdown is scheduled for the first quarter of 2013 and will be used to repay existing shareholder loans. Trelleborg will then receive a total of approximately SEK 800 M. This will lead to a corresponding reduction in the interest-bearing loans granted by the Trelleborg Group as well as a matching reduction in the Trelleborg Group’s gross financial debt with the overall impact on Trelleborg‘s consolidated net debt and gearing being neutral.
For further information, please contact:
Media: Vice President Media Relations Karin Larsson, 46 (0)410 67094, 46 (0)733 747015, karin.larsson@trelleborg.com
Investors/analysts: Vice President IR Christofer Sjögren, 46 (0)410 67068, 46 (0)708 665140, christofer.sjogren@trelleborg.com
This is information of the type that Trelleborg AB (publ) is obligated to disclose in accordance with the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was issued for publication on December 21, 2012, at 09:00 a.m.
Trelleborg is a global industrial group whose leading positions are based on advanced polymer technology and in-depth applications know-how. Trelleborg develops high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group has annual sales of about SEK 22 billion, with about 15,500 employees in over 40 countries. The Group comprises three business areas: Trelleborg Sealing Solutions, Trelleborg Wheel Systems, and Trelleborg Engineered Systems. In addition, Trelleborg owns 50 percent of TrelleborgVibracoustic, a global leader within antivibration solutions for light and heavy vehicles, with annual sales of SEK 13 billion and about 8,000 employees in 17 countries. The Trelleborg share has been listed on the Stockholm Stock Exchange since 1964 and is listed on the NASDAQ OMX Nordic List, Large Cap.
www.trelleborg.com
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