Klöckner & Co SE has access to approximately €2.6 billion in credit facilities whose covenants are largely free of references to Group profitability ratios.
Key Group financing aspects:
- Bilateral facilities (€580 million)
- ABS programs (€560 million)
- Syndicated loan (€500 million)
- Promissory note (€343 million)
- Three convertible bonds (totaling €609 million)
The Group currently has access to around €1.6 billion of bank and ABS facilities that can be drawn upon, as needed, to finance working capital requirements.
Due to the so far concluded acquisitions in 2011 the net financial debt stood at
€580 million on September 30, 2011, compared to €600 million at the end of Q2 2011.
As a result, the gearing ratio (ratio of net financial liabilities to equity) was 35% on September 30, 2011, compared to 36% at the end of Q2 2011.
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