Grammer : places debenture bonds for EUR 120 million

Wednesday January 27, 2016

Grammer AG places debenture bonds for EUR 120 million

-High demand and the greater international profile of the transaction reflecting Grammer Group's appeal to investors

-Improved terms despite volatile market conditions

Amberg, January 27, 2016 - Grammer AG has successfully issued debenture bonds with a total value of EUR 120 million. The new debenture bonds comprise five tranches of up to 10 years with either fixed or floating interest rates. The high demand on the part of investors had prompted Grammer, an automotive components supplier and global market leader in seating systems for commercial vehicles, to increase the originally planned volume by 60 percent.

The issue of the debenture bonds forms a systematic part of Grammer's long-term funding strategy which, among other things, is aiming to achieve a broader investor base and a further improvement in the maturities structure. Accordingly, the investor base includes numerous domestic and international financial institutions.

'With the successful placement of the new debenture bonds, we have been able to utilize very advantageous terms to put the recent acquisition of the Reum Group on a favorable financial footing. At the same time, we have been able to additionally widen the scope that we already had for financing our planned growth and future strategic investments,' said Hartmut Müller, Chief Executive Officer of Grammer AG. 'The strong demand and the fact that the new debenture bonds were substantially oversubscribed underscore the stability of our group finance and our company's appeal to investors,' added Gérard Cordonnier, Chief Financial Officer of Grammer AG.

Company Profile

GRAMMER AG, Amberg, Germany, specializes in the development and production of components and systems for automotive interiors as well as driver and passenger seats for utility and offroad vehicles. In the Automotive Division, we supply headrests, armrests and center console systems to premium automakers and automotive system suppliers. The Seating Systems Division comprises the truck and offroad seat segments as well as train and bus seats.

Grammer is represented in 20 countries worldwide with a workforce of over 12,000 employees across its 30 subsidiaries. The GRAMMER share is listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra as well as in over-the-counter trading at the Stuttgart, Berlin and Hamburg stock exchanges.

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