Joyou AG / Key word(s): Agreement 31.07.2014 16:16 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hamburg, 31 July 2014. Joyou AG today entered into a USD 300 million (approx. EUR 223.4 million) loan facility agreement with a consortium of Japanese banks consisting of Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mizuho Bank, Ltd. A tranche of USD 150 million will be used for further investments in production facilities. Another tranche of USD 150 million will be used to refinance existing indebtedness, including related fees and expenses. The loan has an annual interest rate of Libor (for the applicable interest period - usually three months) plus 2.5 per cent. The tranche to be used for investments in production facilities (the "Capex Facility") will be used to fund various expansion projects of Joyou Group. These include the expansion and relocation of the galvanisation plant, the expansion of the plants for showerheads and faucets as well as the completion of the second new plant for ceramics products. The tranche to be used for the refinancing of existing loans (the "Refinancing Facility") will be predominantly used to refinance a syndicated loan which Joyou took out in June 2013 under the arrangement of Nomura International (Hong Kong) Limited. Furthermore, it will be used to refinance the outstanding amount under a loan taken out from Standard Chartered Bank (Hong Kong) Limited in December 2012. The facility has a term of five years. 50 per cent of each facility will be repayable at the end of the term, while the other 50 per cent of each facility will be repayable in equal instalments during the term starting on 31 October 2015 for the Refinancing Facility and on 31 July 2016 for the Capex Facility. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Joyou Joyou AG (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) is a leading manufacturer and supplier of bathroom fixtures and fittings. Based in Fujian Province, China, Joyou sells its products under the 'JOYOU' brand name in its domestic market and selected international markets. Internationally, Joyou is also a private label supplier for international brands and trading companies around the world. In 2012 Joyou was the leading single-brand manufacturers of bathroom faucets in China in terms of revenues (according to BSRIA's China Bathroom Study 2013). Joyou has established an extensive distribution network in China with over 4,100 individual franchised retail stores as of 31 December 2013. For further information, please contact: Joyou AG GasstraÃe 18, Haus 6A 22761 Hamburg Ian M. Oades, tel.: +86-595-8618 8887, ir@joyou.net Kirchhoff Consult AG Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de or visit the company website at: http://www.joyou.com Disclaimer concerning prognoses This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts instead they reflect Joyou's current views and expectations and the assumptions underlying them about future events. Forward-looking statements are subject to many risks and uncertainties. If any of such risks and uncertainties materialise or if the assumptions underlying any of Joyou's forward-looking statements are proving to be incorrect, Joyou's actual results may be materially different from those expressed or implied by such forward-looking statements. Joyou does not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. 31.07.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Joyou AG GasstraÃe 18, Haus 6 A 22761 Hamburg Germany Phone: Fax: E-mail: ir@joyou.net,andreas.friedemann@kirchhoff.de Internet: www.joyou.de ISIN: DE000A0WMLD8 WKN: A0WMLD Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Joyou AG enters into USD 300 million loan facility agreement for investments and refinancing at favourable conditions
| Source: EQS Group AG