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Schaltbau Holding AG increases existing syndicated loan facility by EUR 60 million

DGAP-News: Schaltbau Holding AG / Key word(s): Financing
22.06.2020 / 08:00
The issuer is solely responsible for the content of this announcement.

Schaltbau Holding AG increases existing syndicated loan facility by EUR 60 million

– Increase of the syndicated credit line existing since June 2019 to EUR 172 million

– Inclusion of the Kreditanstalt für Wiederaufbau (KfW) as an additional consortium partner

– Precautionary financial safeguarding of operational business activities against the background of possible COVID-19 effects on market partners and supply chains

– Originally agreed term of the syndicated financing remains unchanged

Munich, 22 June 2020 – The Executive Board of Schaltbau Holding AG [ISIN DE000A2NBTL2] agreed with the bank consortium under the joint lead management of Commerzbank AG and UniCredit Bank AG to increase the syndicated credit line by EUR 60 million. For this purpose, the Kreditanstalt für Wiederaufbau (KfW) has been included as an additional consortium partner. This increases the existing syndicated loan facility to EUR 172 million.

“With this step we have safeguarded our operating business activities as a precautionary measure against the background of the uncertain market environment and further increased our liquidity base”, says Thomas Dippold, CFO of Schaltbau Holding AG. “The additional financing is now available to us against the background of significantly increased uncertainty in the market due to the COVID 19 pandemic”.

The KfW program used is a temporary framework for state aid to support the economy in the face of the current outbreak of COVID-19. Schaltbau Holding AG took early account of the possible effects of this pandemic on its own business activities in the forecast for the current financial year.

The continuing high level of uncertainty exists in particular with regard to closings of our own production sites or those of customers as well as bottlenecks in the procurement of materials or within supply chains. The loss of employees can lead to further restrictions in the context of the operational performance process. In addition, the COVID-19 pandemic can lead to indirect influences due to an economic decline in demand.

“We are monitoring the operational development very closely and will adjust our production capacities, but at the same time continue to pursue our organic growth path in the medium and long term,” says Dr Albrecht Köhler, CEO of Schaltbau Holding AG. “The short-term challenges of the COVID-19 pandemic are well understood by us and are managed in detail in order to fulfil our obligations in the best possible way and to meet our corporate responsibility.”

The syndicated financing term of three years originally agreed in June 2019 with two extension options of one year each remains unchanged.

About the Schaltbau Group
Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Schaltbau, Bode, Pintsch and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rolling stock, rail infrastructure, road vehicles and commercial vehicles. As one of the few specialists for intelligent energy concepts based on direct current, the Schaltbau Group is also a technology partner and innovation driver for rapidly growing future markets such as New Mobility, New Energy and New Industry.
To find out more about the Schaltbau Group, go to:

Dr. Kai Holtmann
Head of Investor Relations & Corporate Communications
Schaltbau Holding AG
Hollerithstrasse 5
81829 Munich
P +49 89 93005-209

22.06.2020 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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