Bremen, May 24, 2016. OHB SE (Prime Standard, ISIN DE0005936124) today signed a contract to renew its general facility agreement which had come into effect in December 2013. As a result, the facility has been extended ahead of schedule until May 2021 plus two one-year renewal options. At the same time, the margin has been substantially lowered and the amount of the facility reduced by EUR 25 million to EUR 225 million.
As work on the ongoing major projects is proceeding according to schedule, the loan amount originally agreed upon will no longer be required in the future. The new credit facility provides sufficient scope for further operating and strategic steps. With the early renewal of the contract, OHB SE has been able to benefit from the currently low interest rates and simultaneously place its funding on a solid footing until at least May 2021.
The funding continues to be provided by a syndicate comprising a total of seven banks under the lead management of Bayerische Landesbank, Commerzbank AG and UniCredit Bank AG. The other participating banks are BNP Paribas S.A., Deutsche Bank AG, LBBW Rheinland-Pfalz Bank and Landesbank Hessen-Thüringen Girozentrale. OHB SE was advised by financial advisors Herter & Co. and law firm Jones Day on this transaction.