ElringKlinger finalizes new syndicated loan ahead of schedule

PRESS RELEASE

ElringKlinger finalizes new syndicated loan ahead of schedule

• Volume of EUR 450 million covering a period of five years at standard market terms
• Syndicate of seven domestic and international banks led by Commerzbank, Landesbank Baden-Württemberg, and DZ Bank
• Refinancing secured ahead of schedule for the coming years amid challenging macroeconomic conditions
• Forward-looking borrowing measure to underpin general corporate financing of transformation route taken as part of SHAPE30 strategy 

ElringKlinger AG (ISIN DE0007856023 / WKN 785602) yesterday concluded a new syndicated loan agreement, which, in addition to providing general corporate financing, also serves to refinance the original syndicated loan and existing bilateral lines of credit. Funding was jointly arranged by Commerzbank, Landesbank Baden-Württemberg, and DZ Bank; the syndicate also includes Deutsche Bank, HSBC, Targo Bank, and the ING Group. The agreement encompasses a total volume of EUR 450 million over a period of five years at standard market terms and includes an option to increase the volume by a further EUR 100 million.

“In concluding the syndicated loan, we have secured medium- to long-term financing for the Group ahead of schedule despite challenging market conditions,” says Thomas Jessulat, CEO of ElringKlinger AG. “This agreement is an important milestone in continuing along the path of our SHAPE30 transformation strategy and ensuring that we have the necessary flexibility at all times in the face of global uncertainties.”

ElringKlinger has been active in the field of alternative drive concepts for more than 20 years and was an early mover in positioning itself as a specialist in e-mobility by drawing on its core competencies. The company's vision is to drive innovative technologies as a preferred partner. It is this vision that is at the heart of the SHAPE30 Group strategy, which is aimed at shaping the company's transformation by 2030 on the basis of five success factors (Product Transformation, Sustainability, Performance & Process Excellence, Digital Transformation, and Corporate Culture). Building on its capabilities as an innovator, the Group aims to generate more than 50% of its sales beyond the combustion engine by 2030. Holding a leading position in the market, ElringKlinger's long-standing business units form the backbone of the company's transformation.

About ElringKlinger  

As an independent supplier operating worldwide, the ElringKlinger Group has established itself as a powerful and trusted partner to the automotive industry – acknowledged for its exceptional depth of expertise. Our product portfolio encompasses innovative solutions for passenger cars and commercial vehicles powered by electric motors, hybrid technology, or combustion engines. Alongside the powertrain, other areas of application include the underbody, chassis, braking system, interior, and vehicle body. We were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility – with pioneering battery and fuel cell technology, and associated components and assemblies, such as plastic housings, and punched and formed metal parts.

Customized lightweight components engineered by ElringKlinger can be used throughout the entire vehicle; they deliver tangible benefits in terms of weight reduction, efficiency, and functional integration, especially in e-mobility applications.

Additionally, we serve the aftermarket in more than 140 countries with an extensive range of spare parts.

These efforts are supported by a dedicated workforce of more than 9,000 people employed within the ElringKlinger Group. Operating at more than 40 sites worldwide, ElringKlinger has established a global presence and is closely aligned with its customers in all major automotive regions.

Legal notice

This release contains forward-looking statements. These statements are based on the expectations, market assessments, and forecasts of the Management Board and the information currently available to it. These forward-looking statements shall, in particular, not be construed as guarantees of future developments and results referred to therein. Although the Management Board is of the firm opinion that the statements made and their underlying beliefs and expectations are realistic, they are based on assumptions that may prove to be incorrect. Future results and developments depend on a variety of factors, risks, and uncertainties that may lead to changes in the expectations and judgments that have been expressed. These factors include, for example, changes in general economic and business conditions, fluctuations in exchange rates and interest rates, lack of acceptance of new products and services, and changes in business strategy.