SAF-HOLLAND S.A. places a EUR 200 million promissory note loan

SAF-HOLLAND S.A. places a EUR 200 million promissory note loan

DGAP-News: SAF-HOLLAND S.A. / Key word(s): Miscellaneous

2015-11-27 / 15:00

The issuer is solely responsible for the content of this announcement.

Luxembourg, November 27, 2015 - SAF-HOLLAND S.A., Europe's largest publically listed commercial vehicle supplier, issued a EUR 200 million promissory note loan, providing the company with additional funding and greater flexibility.

The proceeds from the promissory note loan give the company additional leeway to finance growth, make select acquisitions, and form joint ventures in promising markets as part of its 2020 strategy.

The transaction was oversubscribed boosting the total issue volume from an originally targeted EUR 125 million to a final total of EUR 200 million. The repayment profile consists of maturities of 5, 7, and 10 years to a large extent at fixed interest rates, which allows the company to take advantage of the current low interest rate environment and finance itself at favorable interest rates for the long term. The transaction was accompanied by Commerzbank, HSBC, IKB, UniCredit.

"The placement of our first promissory note loan has opened the door to a new and flexible source of financing. We are pleased with how well this offer was embraced by investors. Thus we were able to lock-in historically low interest rates for a time span of up to 10 years" commented Wilfried Trepels, CFO of SAF-Holland.

The loan's placement and the increase in the company's credit lines to EUR 156 million have laid the groundwork for implementing the company's 2020 strategy. This strategy envisages an increase in Group sales driven by organic growth from EUR 960 million in 2014 to approximately EUR 1,250 million by 2020 and, including external growth, to a level of roughly EUR 1,500 million.

"Collaborations, joint ventures and acquisitions are expected to facilitate quicker market access and strengthen the company's existing position - especially in the NEXT-11 and MINT markets - by combining our technology and brand with a local market presence," explains CEO Detlef Borghardt with respect to today's closing of the transaction.

Company profile:
SAF-HOLLAND S.A., located in Luxembourg, is the largest listed supplier to the commercial vehicle market in Europe. With sales of approximately EUR 960 million in 2014 and more than 3,000 employees, the company is one of the world's leading manufacturers and suppliers of chassis-related systems and components primarily for trailers, trucks, buses, and recreational vehicles. The product range comprises axle and suspension systems, fifth wheels, kingpins, and landing gear and is marketed under the brands SAF, HOLLAND, and Neway. SAF-HOLLAND sells its products to Original Equipment Manufacturers (OEMs) on six continents. The Aftermarket Business Unit sells spare parts to the Original Equipment Service (OES) of the manufacturers and to end customers and service centers through its own extensive global service and distribution network. SAF-HOLLAND is one of the few suppliers in the truck and trailer industry that is internationally positioned in almost all markets worldwide.


Stephan Haas
Hauptstraße 26
63856 Bessenbach

Phone +49 6095 301-617

2015-11-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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