2017

• The Berentzen Group exploits the favourable financing environment to replace the corporate bond (EUR 50.0 million) maturing in October 2017 by a syndicated loan arranged by Deutsche Postbank AG as consortium leader
• After repayment of the corporate bond, the volume of borrowing was just about halved to EUR 25.5 million in line with needs
• CFO Ralf Brühöfner anticipates a significant decrease in the annual financing costs from autumn 2017 onwards with the associated positive effects on cash flow and financial performance

Haselünne, January 9, 2017 – Berentzen-Gruppe Aktiengesellschaft, which is listed on the regulated market (General Standard) of the Frankfurt Stock Exchange (ISIN: DE0005201602), is making use of the company’s strong performance and the favourable financing environment to obtain premature refinancing. Just under ten months prior to the repayment date of its corporate bond (ISIN: DE000A1RE1V3), the Berentzen Group is safeguarding its financing needs by means of a syndicated loan with a volume of EUR 25.5 million.

The corresponding financing agreement with the banking syndicate led by Deutsche Postbank AG was signed on 21 December 2016. “I am very satisfied with this outcome. We had shortlisted several options for our refinancing plans. The recently signed syndicated loan with a term of five years permits us to achieve two goals at once: the long-term security of our financing and attractive terms”, explains Ralf Brühöfner, CFO of Berentzen-Gruppe Aktiengesellschaft.

On account of its excellent cash-flow situation, the Group only needs to cover around half the nominal amount of the corporate bond due in October 2017 with external refinancing. The other half will be repaid from existing own funds. The injection of cash from the 2012 bond issue was used by the Berentzen Group to finance company acquisitions and to expand its own business, but not all of that amount was needed. For example, the net payment in connection with the acquisition of T M P, a specialist in fresh juice systems based in Austria, in autumn 2014 only came to around EUR 15.5 million.

The Berentzen Group issued a corporate bond for the first time in October 2012; it had an issue volume of EUR 50.0 million and a five-year maturity. The bond was designed for private and institutional investors alike and paid an annual coupon of 6.5%. Thanks to the refinancing transaction that has now been completed with a reduced volume, the Berentzen Group is expected to be able to reduce its annual financing costs by more than two million euros from October 2017 onwards, which is more than half. “We anticipate a significant reduction in borrowing costs with correspondingly significant postive effects – not only on our cash flow but, of course, also on our financial performance and thus, ultimately, on our equity”, says CFO Ralf Brühöfner.