Dürr Aktiengesellschaft / Key word(s): Issue of Debt
13.09.2010 11:15
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Dürr bond successfully placed, issue more than three times oversubscribed
Bietigheim-Bissingen, September 13, 2010 - Dürr has successfully placed a
EUR 150 million corporate bond. The subscription process was already closed
today after a few hours. The bond has a coupon of 7.25% p.a. and is due in
September 2015. With this issue, Dürr is lowering its interest costs and
placing a large part of its debt financing on a long-term basis. The
company will use EUR 100 million of the net proceeds to completely redeem
its outstanding old bond issued in 2004 with a coupon of 9.75% p.a. The
redemption of the old bond will be at par and is due to be completed by
November.
Dürr placed the new bond as a proprietary issue primarily among private
investors, asset managers, and small institutional investors in Germany and
Austria via the Stuttgart Stock Exchange's Bondm segment. CFO Ralph Heuwing
commented: 'We are extremely pleased with the success of the issue. We are
not only improving our interest costs and maturity structures but are also
heartened by the lively response in the capital market to our innovative
placing concept.' The bond can start trading on the Frankfurt and Stuttgart
stock exchanges on September 28, 2010; the interest will be paid annually.
Dürr is a mechanical and plant engineering group that holds leading
positions in the world market in its areas of operation. It generates a
good 80% of its sales in business with the automotive industry. It
furthermore supplies the aircraft, machinery, chemical, and pharmaceutical
industries with innovative production and environmental technology. The
Dürr Group operates in the market with two divisions. The Paint and
Assembly Systems division supplies production and painting technology,
especially for car bodies. Machinery and systems from the Measuring and
Process Systems division are used in engine and transmission manufacturing
and in final vehicle assembly, among other areas. Dürr has 48 business
locations in 21 countries worldwide. The Group achieved sales of EUR 1.1
billion with approximately 5,700 employees in 2009.
Contact:
Dürr AG
Günter Dielmann/Mathias Christen
Corporate Communications & Investor Relations
Phone +49 7142 78-1785/-1381
Fax +49 7142 78-1716
Email corpcom@durr.com
13.09.2010 11:15 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Dürr Aktiengesellschaft
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Deutschland
Phone: 07142 78-1785
Fax: 07142 78-1716
E-mail: investor.relations@durr.com
Internet: www.durr.com
ISIN: DE0005565204
WKN: 556520
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Hamburg, München, Düsseldorf, Berlin, Hannover
End of Announcement DGAP News-Service
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DGAP-News: Dürr Aktiengesellschaft: Dürr bond successfully placed, issue more than three times oversubscribed
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