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05.11.2012 – 09:00

Lenzing AG

EANS-News: Lenzing AG
Lenzing Issues EUR 200 Mn German Private Placement (Schuldschein) with an Interest Rate of 2.55%

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Company Information

Lenzing (euro adhoc) - Lenzing AG, global market leader in the production of
man-made cellulose fibers, has successfully issued and placed a German Private
Placement (Schuldschein) to the amount of EUR 200 mn (senior debt, unsecured) on
the debt capital market. Lenzing AG was able to attain an extremely favorable
interest rate of 2.55%, with an average term to maturity of six years. Moreover,
the transaction was multiple times oversubscribed compared to the original
offering. The German Private Placement (Schuldschein) was offered with a term to
maturity of four and seven years respectively, in each case at fixed and
variable interest rates, as well as with a term to maturity of ten years but
only at a fixed interest rate.

"Following the issuance of a corporate bond in 2010 and the capital increase
within the context of the Re-IPO 2011, we want to take advantage of a further
asset class for financing purposes on behalf of the Lenzing Group. Thus we are
implementing the diversification of Group financing, especially as it is
possible to optimally add further tranches in the future to the existing German
Private Placement", says Lenzing Chief Financial Officer Thomas G. Winkler. 

The Lenzing Group currently has a strategic liquidity reserve of about EUR 353
mn at its disposal (cash and cash equivalents as well as short term securities).
In addition, Lenzing can draw upon unused lines of credit to the amount of over
EUR 200 mn. The issued German Private Placement (Schuldschein), which increases
the level of liquidity by EUR 200 mn, takes advantage of the favorable market
situation at present, with a historically low EURIBOR interest rate, in order to
safeguard the financing of Lenzing's dynamic expansion drive over a period of up
to ten years.

Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 7672-918-2713

end of announcement                               euro adhoc 

company:     Lenzing AG
             A-A-4860 Lenzing
phone:       +43 7672-701-0
FAX:         +43 7672-96301
sector:      Chemicals
ISIN:        AT0000644505
indexes:     WBI, ATX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien 
language:   English

Original content of: Lenzing AG, transmitted by news aktuell