Socialpost

Complete News World

DGAP-Adhoc: Delticom AG: Successful conclusion of syndication agreement | 12/20/21

DGAP-Ad-hoc: Delticom AG / Keyword(s): Finance
Delticom AG: successful conclusion of a syndicated loan agreement

20.12.2021 / 20:44 CET / CEST
Dissemination of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is responsible for the content of this ad.

Delticom AG: successful conclusion of a syndicated loan agreement

Funding follow-up – Hannover, December 20, 2021 – Delticom AG (WKN 514680, ISIN DE 00005146807, index code DEX) today entered into a two-year syndicated loan agreement with Commerzbank, Deutsche Bank and Sparkasse Hannover, who are also represented in the previous group of financiers. The purposes are general corporate financing of Delticom Group, recovery of existing financial obligations under the Restructuring Loan Agreement of December 13, 2019, as well as financing of Delticom Group general letter of credit requirements and guarantees. The funding framework that will be available to the Company in the future through the syndication agreement is adequately designed in relation to its future growth objectives.

As of the end of the contractually stipulated restructuring period on December 31, 2021, three of the six lenders as bank financers will withdraw at their request after the lines of credit they may have withdrawn at that time have been fully repaid.

Today’s restructuring agreement with the remaining lending banks has been extended until January 31, 2022, so that the Company and these banks will have sufficient time to prepare the payment terms under the new syndication agreement.

The trustee agreement relating to the shares of the principal investor Prüfer GmbH entered into in connection with the restructuring agreement has today been terminated.

See also  How Google wants to make its users more climate friendly

The successful completion of the operational reorganization was announced in August by the Restructuring and Transformation Consultant, Struktur’s management partner. With the first installment planned for January 2022 under the syndication agreement, the company’s financial restructuring will also be completed.

About Delticom:

With the ReifenDirekt brand, Delticom AG is Europe’s leading online distributor of complete tires and wheels.

The product portfolio for individual and corporate customers includes an unparalleled range of over 600 brands and over 40,000 tire models for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 351 online stores and online sales platforms in 73 countries and serves more than 16 million customers.

As part of the service, ordered products can be sent to one of Delticom’s 38,000 workshop partners worldwide for assembly at the customer’s request.

The company, which is headquartered in Hannover, Germany, is mainly active in Europe and the USA and has extensive experience in creating and operating online stores, acquiring online customers, in Internet marketing and in creating partner networks.

Since its founding in 1999, Delticom has accumulated extensive experience designing system operations and efficient logistics operations that are fully integrated into the system. Private warehouses are a core asset of the company.

In fiscal year 2020, Delticom AG generated sales of over €541 million. At the end of last year, the company had 177 employees.

The shares of Delticom AG have been listed on the main benchmark of the German Stock Exchange since October 2006 (ISIN DE0005146807).

See also  Expensive victories against Vestager for Silicon Valley

Online at: www.delti.com

Call:

Delticom AG
Investor Relations
Melanie Baker
Bruhlstrasse 11
30169 Hannover
Tel: +49 (0) 511-93634-8903
Fax: +49 (0) 511-8798-9138
Email: [email protected]

Distribution services include CET/CEST DGAP 12/20/2021 regulatory reports, corporate/financial news, and press releases.
Media archive at http://www.dgap.de