ElringKlinger finalizes new syndicated loan ahead of schedule

• Volume of EUR 450 million covering a period of five years at standard market terms
• Syndicate of seven domestic and international banks led by Commerzbank, Landesbank Baden-Württemberg, and DZ Bank
• Refinancing secured ahead of schedule for the coming years amid challenging macroeconomic conditions
• Forward-looking borrowing measure to underpin general corporate financing of transformation route taken as part of SHAPE30 strategy

ElringKlinger AG (ISIN DE0007856023 / WKN 785602) yesterday concluded a new syndicated loan agreement, which, in addition to providing general corporate financing, also serves to refinance the original syndicated loan and existing bilateral lines of credit. Funding was jointly arranged by Commerzbank, Landesbank Baden-Württemberg, and DZ Bank; the syndicate also includes Deutsche Bank, HSBC, Targo Bank, and the ING Group. The agreement encompasses a total volume of EUR 450 million over a period of five years at standard market terms and includes an option to increase the volume by a further EUR 100 million.

“In concluding the syndicated loan, we have secured medium- to long-term financing for the Group ahead of schedule despite challenging market conditions,” says Thomas Jessulat, CEO of ElringKlinger AG. “This agreement is an important milestone in continuing along the path of our SHAPE30 transformation strategy and ensuring that we have the necessary flexibility at all times in the face of global uncertainties.”

ElringKlinger has been active in the field of alternative drive concepts for more than 20 years and was an early mover in positioning itself as a specialist in e-mobility by drawing on its core competencies. The company's vision is to drive innovative technologies as a preferred partner. It is this vision that is at the heart of the SHAPE30 Group strategy, which is aimed at shaping the company's transformation by 2030 on the basis of five success factors (Product Transformation, Sustainability, Performance & Process Excellence, Digital Transformation, and Corporate Culture). Building on its capabilities as an innovator, the Group aims to generate more than 50% of its sales beyond the combustion engine by 2030. Holding a leading position in the market, ElringKlinger's long-standing business units form the backbone of the company's transformation.