Klöckner & Co SE has access to facilities of more than €2.6 billion in total, only 57% of which have currently been used (as of March 2012).
Key Group financing aspects:
- Bilateral facilities (€603 million)
- ABS programs (€570 million)
- Syndicated loan (€500 million)
- Promissory notes (€343 million)
- Three convertible bonds (totaling €609 million)
The Group currently has access to around €2 billion of bank and ABS facilities that can be drawn upon, as needed, to finance working capital requirements.
Net financial debt increased from €471 million at the end of 2011 to €573 million due primarily to the usual seasonal increase in the funds tied up in net working capital. Net financial debt was nonetheless kept low relative to equity, with gearing of 35%. The equity ratio stood at roughly 38% as of March 31, 2012, compared with 39% at the 2011 year-end.
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