VARTA secures future investments with ESG promissory note loans of EUR 250 million.

VARTA AG is starting into the future with new energy. The company placed promissory note loans totaling
EUR 250 million on the capital market via a consortium of BayernLB, HSBC and UniCredit. The four tranches have a term of five or seven years (3/4 of the credit volume) and mainly have a fixed interest coupon. The funds are available to the company for general financing projects. The initial average interest rate is 1.44% The transaction was linked to VARTA AG's ESG rating by Morningstar Sustainalytics, the leading independent company in the field of research, rating and analysis of ESG and corporate governance. Depending on the change in Varta's rating, the spread of the promissory note may change.

Armin Hessenberger, CFO of VARTA AG: "Right from the start, the order book developed extremely dynamically and showed a very high level of stability. Demand exceeded supply by more than four times. We have thus completed a major step towards financing our growth initiative."

Herbert Schein, CEO of VARTA AG: "The special thing about this loan is that it is linked to the very good performance of VARTA AG in the area of ​​sustainability. We have been making great efforts here for many years, which have already made us the Green Partner of leading international companies. We will take further steps here in the future."

Rainer Hald, CTO of VARTA AG: "The plan is to use the money to expand our lithium-ion business. One focus will be on building up production capacity for the large format round cell. In addition, the capacities of the small-format cells will be further expanded."

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VARTA AG published this content on 13 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2022 08:14:16 UTC.