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DGAP-Ad-hoc: HanseYachts Aktiengesellschaft / Key word(s): Financing
HanseYachts AG receives financing commitments totaling €17.1 million Greifswald, 07 September 2020 - HanseYachts AG today received a binding commitment for loans totaling €13.0 million from all local German banks involved in the financing to stabilize the operational business of the company and the Group. The loans will be granted on market conditions and up to 72-month term, accompanied by a 90-percent guarantee pledged by the federal state of Mecklenburg-Vorpommern. The loans will be disbursed subject to the satisfaction of all bank requirements and state requirements of Mecklenburg-Vorpommern for providing the state guarantee for the banks. The conditions for the state guarantee and the loans from the German banks include non-distribution of profits over the terms of the loan agreements and suspension of repayments on shareholder loans. The company's majority shareholder, Aurelius Equity Opportunities SE & Co. KGaA, will also participate in the financing with an additional €1.5 million through its subsidiaries. Commitments for additional loans totaling approximately €2.6 million to finance the operating companies in France and Poland were also given by the respective local banks. The total financing commitments of €17.1 million will ensure stabilization of business operations for HanseYachts AG and the Group despite the temporary limitations resulting from the decline in sales due to the COVID-19 pandemic. The company's Executive Board will continue to constantly evaluate the situation and the development of the COVID-19 pandemic. It has already introduced various additional measures to stabilize business operations. Among other things, these include introducing reduced working hours in Germany and Poland in all departments and production lines affected by the consequences of the pandemic. HanseYachts AG The Executive Board Additional information, extensive image resources, specifications, and much more is available on our websites in the press area of HanseYachts Aktiengesellschaft. Please visit the press area of our website: www.hansegroup.com.
07-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | HanseYachts Aktiengesellschaft |
| Ladebower Chaussee 11 | |
| 17493 Greifswald | |
| Germany | |
| Phone: | +49 (0)3834-5792-20 |
| Fax: | +49 (0)3834-5792-81 |
| E-mail: | ir@hanseyachts.com |
| Internet: | www.hanseyachtsag.com |
| ISIN: | DE000A0KF6M8 |
| WKN: | A0KF6M |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart |
| EQS News ID: | 1128401 |
| End of Announcement | DGAP News Service |
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1128401 07-Sep-2020 CET/CEST
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