Successful refinancing and rating upgrade
Summary
RENK Group AG / Key word(s): Financing Successful refinancing and rating upgrade 27.02.2024 / 16:17 CET/CEST The issuer is solely responsible for the content of this announcement. Following its successful public listing on February 7, 2024, RENK Group AG also pushed ahead with the refinancing of its debt. The 520m corporate bond (5.75% senior secured notes due 2025) was redeemed on February 20 and replaced by a 525m term loan from a consortium of banks. We are very pleased that we have been able to put our debt financing on a solid footing in the medium term with this competitive package. The 5-year term gives us good visibility, while the extended guarantee facilities give us flexibility to further drive our growth," says Christian Schulz, CFO RENK Group AG, The rating upgrade from Moodys confirms our view that we are solidly positioned on both the equity and debt side following the successful public listing."