Besides supporting the day-to-day operational business of the global organization, the new credit facility underpins the strategy of further expanding new digital business models, such as the newly established subscription portfolio.
“This refinancing is another sign of the banks’ confidence in our strategic roadmap to a digital future,” said Dirk Kaliebe, CFO of Heidelberg. “The financial basis for our new digital technologies and business models has been secured for the long term. We have numerous options at our disposal for driving forward our growth strategy. At the same time, we are able to further reduce interest costs by optimizing the financial framework.”
The new credit line also gives Heidelberg more flexibility to pay off a proportion of the existing 8% bond due in 2022 ahead of time and under more advantageous conditions. Heidelberg is planning to reduce its financing interest by close to half to around €20 million in the medium term.