News

NORMA Group refinances at optimized conditions

• New credit agreement offers security and flexibility

• Reduction of financing costs

• Financing model with sustainability component

Maintal, Germany, December 3, 2019 – NORMA Group, a global market leader in engineered joining technology, has successfully refinanced its credit lines, creating financial security and flexibility for the future. The new credit agreement has an initial volume of EUR 250 million. In addition, a revolving facility of EUR 50 million and an accordion facility have been concluded.

“By successfully refinancing, we have significantly optimized the financing structure for NORMA Group. This gives us the security and financial scope we need to implement our long-term growth strategy,” said Dr. Michael Schneider, CEO of NORMA Group. “The inclusion of a sustainability component underscores the high priority NORMA Group attaches to Corporate Responsibility.”

The sustainability component couples the financing conditions with NORMA Group’s commitment in the area of Corporate Responsibility. By further improving its sustainability rating, the company is thus in a position to reduce the interest burden on its financing. The loan agreement was concluded for a term of 5 years and includes two options for extension by an additional year each. The financing consists of tranches denominated in Euro and US dollar.

The refinancing was concluded with a consortium comprised of ten international banks, including UniCredit Bank as the documentation agent, Commerzbank as the paying agent and ING Bank as the sustainability agent. NORMA Group has been working successfully with these banks for many years.