The new term of the loan is five years and, like the agreement valid to date, is subject to compliance with specific covenants.
Both the syndicate of banks led by Commerzbank, Deutsche Bank and UniCredit as well as the volume of €210m are identical to the former agreement. The former agreement would have expired in September 2016.
"We took advantage of this opportunity to further reduce our borrowing costs," explains chief financial officer Hans-Dieter Schumacher. "The banks have rewarded the strong development of Homag Group AG as reflected in the constant improvement of the results of operations since the conclusion of the former agreement," concludes Mr Schumacher.
