EQS-News: Stabilus replaces bridge financing for the Destaco acquisition with €250 million promissory note

CORPORATE NEWS

Stabilus replaces bridge financing for the Destaco acquisition with €250 million promissory note

• Agreement signed to issue a promissory note (Schuldschein) of €250 million; funds will be used to replace the bridge loan taken out to finance the acquisition of Destaco
• The issue is significantly oversubscribed and offers Stabilus attractive conditions
• With the newly issued promissory note, the existing financing structure and the maturity profile, Stabilus is fully financed for the next three years

Koblenz, September 19, 2024 – Stabilus SE (WKN: STAB1L, ISIN: DE000STAB1L8), one of the world's leading suppliers of motion control solutions for a wide range of industries, today signed the contracts for a promissory note loan (Schuldscheindarlehen) with a volume of €250 million. The settlement and thus the disbursement of the funds is scheduled for September 27, 2024. The promissory note loan is structured in four tranches with maturities of three and five years, each with attractive fixed and variable interest rates, and will be used to replace the bridge facility of €250 million, which Stabilus planned to be refinanced in the fourth quarter of fiscal 2024. The bridge financing was taken out in October 2023 for the purpose of financing the acquisition of Destaco. The promissory note transaction was very well received on the market and generated strong interest among investors. The transaction was significantly oversubscribed.

Stefan Bauerreis, CFO of Stabilus SE, said: "We are pleased with the great interest shown by investors in the placement of our promissory note. The issuance enables us to refinance the bridge financing taken out for the acquisition of Destaco as planned. Based on the high demand, we were once again able to secure attractive conditions, which we are using to finance an important pillar of our growth strategy. With this step, Stabilus will be fully financed for the next three years. We expect to continuously reduce our net debt in the coming quarters and thus also reduce the net leverage ratio."

In keeping with the group’s long-term financing strategy, Stabilus aims to achieve a well-balanced debt maturity profile while safeguarding its flexibility in optimizing the cost of capital. As of June 30, 2024, Stabilus SE's net leverage ratio¹ was 2.8.

With over 30 participating investors, including both German and major international financial institutions, the issue was met with very high demand. The issue was organized by Landesbank Baden-Württemberg and Commerzbank AG.

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¹ Cf. definition/calculation of the net leverage ratio in the Quarterly Statement 9M FY2024, p. 26, that can be downloaded from the company’s website at ir.stabilus.com.

Investor contact:
Andreas Schröder
Tel.: +49 261 8900 8198
E-Mail: anschroeder@stabilus.com
Web: ir.stabilus.com

Press contact:
Peter Steiner
Tel.: +49 69 794090 27
E-Mail: stabilus@charlesbarker.de
Charles Barker Corporate Communications

About Stabilus

Stabilus is one of the world's leading providers of motion control solutions across a broad spectrum of industries including mobility, industrial machinery, automation, energy, construction, health, recreation and furniture. Stabilus offers reliable and innovative solutions that enable, enhance and automate precise movement, positioning, opening, closing, lifting, lowering and adjusting actions. With its operational headquarters in Koblenz, Germany, the Stabilus Group has a global production and sales network with more than eight thousand employees and reported revenue of €1.2 billion in the 2023 fiscal year. Stabilus SE is listed in the Prime Standard segment of the Frankfurt Stock Exchange and is included in the MDAX index. Further information is available at group.stabilus.com and ir.stabilus.com.

Important Notice

This press release may contain certain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management and other information currently available. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.