Business News

Axel Springer AG secures a revolving credit facility of EUR 900 million

Thursday 04. October 2012 - Axel Springer AG has renewed an expiring credit line of originally EUR 1.5 billion to secure its medium-term financing requirements. Therefore the company concluded a revolving credit facility of EUR 900 million. The credit will run over a period of five years, the terms are between 40 and 50 basis points above the interbank rate. A total of ten national and international banks are participating in this loan. The financial institutions which arranged the loan are Commerzbank, Landesbank Hessen-Thüringen, Société Générale and Unicredit. The transaction generated considerable interest and was therefore oversubscribed.

In April 2012 the company has already placed a promissory note with both fixed and variable interest rates with a duration of four and six years and a total volume of EUR 500 million.
Lothar Lanz, Chief Financial Officer of Axel Springer AG: “The newly concluded revolving credit facility and the promissory note are perfectly matched to one another with respect to the maturity and interest rate profile. By securing EUR 1.4 billion of debt commitments we are perfectly enabled to further execute our digital growth strategy.”