KBA extends credit lines until 2015

- Credit lines granted to the parent by its banking consortium total €100 million

 

- Commitment viewed as an expression of trust in the sustainable future development of KBA through the sheet-fed and web offset markets, and future-oriented growth segments such as digital, metal decorating, security, coding and packaging.

 

German press manufacturer Koenig & Bauer (KBA) has extended its credit lines for cash use and guarantees by three years.

 

Credit lines granted to the parent by its banking consortium total €100 million.

 

At the beginning of 2012, KBA agreed on a credit line of CHF100 million (€81.3 million) with the Credit Suisse bank for its large subsidiary in the security business. These credit lines for the next few years are crucial foundations in maintaining a solid financial position.

 

KBA’s own comfortable liquidity from its operational business and additional credit lines over several years allows the management flexibility, and opens up options for expansion and other strategic steps, such as entering growth markets like digital printing.

 

All of the banks participating in the German pool so far with Unicredit as leader of the consortium, plus Bayern LB, Commerzbank and Deutsche Bank, have confirmed their involvement. KBA sees this commitment as an expression of trust in the sustainable future development of its line of business based on several pillars in traditional sheet-fed and web offset markets, and future-oriented growth segments such as digital, metal decorating, security, coding and packaging.

 

KBA chief financial officer Dr Axel Kaufmann said: ‘With this step we are taking advantage of the current favorable interest level and have provided ourselves with additional security in the volatile capital goods industry.

 

‘When taking into account bank debts, earnings before taxes in the last years, equity ratio and other financial and balance sheet ratios, KBA positively outperforms other companies in the industry. Our customers value this as they can rely on KBA as a healthy and long-term business partner.’

 

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