German satellite and rocket hardware builder OHB SE announced on 3 June 2020 that it has today entered into a new credit facility agreement, which replaces the existing agreement ahead of schedule. In the course of the refinancing, the credit volume was increased from EUR 225 million to EUR 300 million, with a term of five years and two extension options of one year each.
The increased credit volume and the extended term support OHB SE’s strategic orientation and further growth. With the conclusion of this contract, the Group is optimising its existing financing structure against the backdrop of the current high level of uncertainty concerning the performance of the financial markets and substantially increasing the degree of certainty and predictability with respect to the medium-term liquidity situation.
The new credit facilities are being provided by a syndicate of long-standing principal banks, including Bayerische Landesbank, Commerzbank AG, Deutsche Bank AG, Landesbank Baden-Württemberg, Unicredit Bank AG and Landesbank Hessen-Thüringen Girozentrale. OHB SE was advised on the refinancing by financial consultants Herter & Co. and the law firm Taylor Wessing.