Successful conclusion of a syndicated credit agreement

Delticom AG / Keyword (s): Financing
Delticom AG: Successful conclusion of a syndicated loan agreement

20-Dec-2021 / 20:44 CET / CEST
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Delticom AG: Successful conclusion of a syndicated loan agreement

Additional funding – Hanover, December 20, 2021 – Delticom AG (German Stock Code (WKN) 514680, ISIN DE 00005146807, ticker DEX) today entered into a two-year syndicated loan agreement with Commerzbank, Deutsche Bank and Sparkasse Hannover, which were also represented in the previous funding bundle. The object of the agreement is the general financing of the Delticom Group company, the reimbursement of existing financial debts under the restructuring credit agreement of December 13, 2019 and the financing of the general letter of credit and warranty requirements of the Delticom Group. The financing framework that will be available to the company in the future via the syndicated loan agreement is sufficiently structured with regard to future growth objectives.

As of the contractually planned end of the restructuring period on December 31, 2021, three of the six lenders will withdraw as financing banks at their own request after full repayment of the lines of credit that could have been drawn on them on that date. .

The restructuring agreement was extended today with the remaining lending banks until January 31, 2022 to give the company and those banks sufficient time to qualify for disbursement under the new syndicated loan agreement.

The fiduciary agreement concluded within the framework of the restructuring agreement concerning the shares of the main investor Prüfer GmbH was terminated today.

The operational restructuring was already declared successful in August by the restructuring and turnaround consultant Struktur Management Partner. With the first payment under the syndicated loan agreement scheduled for January 2022, the financial restructuring of the company will also be completed.

About Delticom:

With the Reifendirekt brand, Delticom AG is the leading company in Europe for the online distribution of tires and complete wheels.

The product portfolio for private and business customers includes an unrivaled range of around 600 brands and over 40,000 models of tires for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 351 online stores and online distribution platforms in 73 countries, serving more than 16 million customers.

As part of the service, ordered products can be sent to one of some 38,000 Delticom partner workshops around the world for assembly at the customer’s request.

Based in Hanover, Germany, the company operates primarily in Europe and the United States and has extensive expertise in the development and operation of online stores, internet customer acquisition, internet marketing and networking. partners.

Since its founding in 1999, Delticom has developed comprehensive expertise in designing efficient and fully integrated ordering and logistics processes. The company’s own warehouses are among its most important assets.

In the financial year 2020, Delticom AG generated a turnover of more than 541 million euros. At the end of last year, the company employed 177 people.

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

On the internet at: www.delti.com

Contact:

Delticom SA
Investor Relations
Melanie Becker
Rue Brühl 11
30169 Hanover
Telephone: +49 (0) 511-93634-8903
Fax: +49 (0) 511-8798-9138
Email: [email protected]

20-Dec-2021 CET / CEST DGAP’s distribution services include regulatory announcements, financial / corporate news and press releases.
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