The CABB Group has successfully completed its refinancing. New bonds with a total volume of EUR 640 million have been placed with institutional investors. The issuance comprises two tranches including EUR 490 million secured and EUR 150 million unsecured securities. Additionally, a Revolving Credit Facility of EUR 80 million was granted. The proceeds have been used to fully pay back previously outstanding debt instruments and credit facilities.
Markus Schürholz, CABB Group CFO, commented: “I am very pleased with our successful refinancing, which is another vote of confidence in our strategy and our entrepreneurial performance. Long maturities of 5.5 and 7 years respectively provide planning certainty for our future development.”
Valerie Diele-Braun, CABB Group CEO: “Backed by our long-term stable financing structure, we will continue to develop the company guided by our vision to be the global leader in complex fine chemistry. Our well-developed integrated and differentiated production facilities, long-standing customer relationships and strong R&D resources position us perfectly for profitable growth.”
With the refinancing completed, the company will now fully focus on further implementing its growth strategy. The integration of the US based company Jayhawk ensures further growth momentum and positions CABB as a leading global AgChem Custom Manufacturing player, whilst also benefitting from the continued strong performance of the Acetyls business. Substantial capital expenditures over the previous years have laid the foundation for future top- and bottom-line growth.