Uniper secures external financing
- Credit facilities of in total euro 5 billion concluded with three banks
- CFO Delbrück: Stand-alone financing accomplished at early stage
Uniper has signed credit facilities with an international consortium of renowned banks—
J.P. Morgan Limited, Deutsche Bank AG and UniCredit Bank AG—to secure financing
in the total amount of euro 5 billion for the time post spin-off. The financing comprises
of two tranches: a term loan of euro 2.5 billion with a maturity of three years, and a
revolving credit facility of another euro 2.5 billion with an initial maturity of three years,
where the latter includes two options to extend the facility by one additional year with
the consent of the banks. Uniper will syndicate the credit facilities to its core
relationship banking group in the coming weeks.
Christopher Delbrück, CFO of Uniper: “With this bank financing totaling euro 5 billion,
we have today firmly secured the stand-alone financing of the Uniper Group for the long
term. We are pleased to have reached this milestone with a team of renowned banks.”
The agreement with the banks was made a few weeks after the rating agency Standard
& Poor’s assigned Uniper an investment-grade rating of BBB- with a stable outlook.
Uniper aims to have a comfortable investment-grade rating in the medium term. To
achieve this objective, Uniper intends to reduce its current debt factor (ratio of
economic net debt to EBITDA) to well below 2.0, and its net financial debt to EBITDA
ratio to below 1.0. To that end, Uniper has announced asset sales totaling at least euro
2 billion, as well as cost reductions.
This press release may contain forward-looking statements based on current assumptions and
forecasts made by the Uniper SE Management and other information currently available to Uniper.
Various known and unknown risks, uncertainties and other factors could lead to material differences
between the actual future results, financial situation, development or performance of the company and
the estimates given here. Uniper SE does not intend, and does not assume any liability whatsoever, to
update these forward-looking statements or to conform them to future events or developments.