DGAP-News: QSC AG / Key word(s): Miscellaneous
QSC places EUR 150 million promissory note loan
20.05.2014 / 10:30
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QSC places EUR 150 million promissory note loan
Cologne, Frankfurt, May 20, 2014. QSC AG is optimizing its financing
structure and extending the term of its financing. As announced, the
company has placed a debut promissory note loan in the amount of EUR 150
million on the capital market to accomplish this. Commerzbank accompanied
the transaction.
Within the framework of the placement, the promissory note was offered with
both fixed and variable interest rates and with terms of 5 and 7 years. As
a result of strong demand on the part of investors, QSC decided to raise
the volume to EUR 150 million. The spread between all offered tranches was
at the lower end of the marketing range. The loan was placed with some 30
investors domiciled in Germany, France, Switzerland, Austria and Asia, with
the majority of the investors coming from the savings bank sector.
QSC Chief Financial Officer Barbara Stolz notes: "We utilized the very good
capital market environment to secure our financing into the coming decade."
QSC will be utilizing a portion of the promissory note loan to replace a
consortial credit facility that runs through September 2016. Moreover, in
contrast to what was still being planned at the outset of the year, it is
now possible to redeem a factoring contract in the amount of EUR 11
million, which had been assumed together with the majority interest in INFO
AG in 2011. This redemption would impact net debt during the further course
of the year and would therefore be presented separately in calculating free
cash flow, as it is based upon an obligation stemming from acquisitions and
represents merely a technical financial restructuring on the outside
capital side. Moreover, this new financing will broaden the company's
latitude for investments in future growth. QSC Chief Financial Officer
Stolz stresses: "The focus of the current fiscal year will be squarely on
investing in innovations. In addition to strengthening our own development
activities, we do not preclude potential further acquisitions of smaller
technology companies." Just last February, QSC acquired the majority stake
in Munich-based encryption specialist FTAPI.
QSC: ICT solutions for medium-sized businesses
QSC AG offers medium-sized businesses extensive ICT services from one
source: everything from telephony, data transfer, Housing and Hosting to IT
Outsourcing and IT Consulting. As an SAP Gold Partner and Microsoft Gold
Certified Partner, QSC AG also has special knowledge in the fields of SAP
and Microsoft Implementation. In-house developed Cloud services for highly
diverse applications round off the portfolio. With its own ultra-modern
network infrastructure as well as Germany-based computer centers certified
by TÃV and ISO, QSC is among the leading medium-sized providers of ICT
services in Germany. The company offers both custom-made solutions for
individual ICT requirements and a modular product portfolio for smaller
business customers and distribution partners. QSC employs around 1,700
people and is listed in the TecDAX.
Queries to:
QSC AG
Arne Thull
Head of Investor Relations
Phone: +49 221 669-8724
Fax: +49 221 669-8009
E-mail: invest@qsc.de
Internet: www.qsc.de
Commerzbank
Stefan Oldendorf
Phone: +49 69 136 24883
E-mail: stefan.oldendorf@commerzbank.com
End of Corporate News
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20.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: QSC AG
Mathias-Brüggen-StraÃe 55
50829 Köln
Germany
Phone: +49-221-6698-724
Fax: +49-221-6698-009
E-mail: invest@qsc.de
Internet: www.qsc.de
ISIN: DE0005137004
WKN: 513700
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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269417 20.05.2014
DGAP-News: QSC places EUR 150 million promissory note loan
| Source: EQS Group AG