Ad-hoc: Corporate Financing Restructured
Stuttgart, 24 June 2008 – In line with its corporate planning, AC-Service AG has concluded the realignment of its debt-financing strategy as scheduled. The strategy calls for continuing to move forward along the dynamic and robust growth path in the SAP midmarket segment where German is spoken.
The company's Supervisory Board granted its approval to two long-term, growth credit agreements with the two financing partners Dresdner Bank AG, Frankfurt, and Landesbank Baden Wärttemberg, Stuttgart. The volume of the two agreements totals EUR 9 million. Additional short-term lines of credit were also signed. The terms of the two agreements expire in June 2012 and June 2013 respectively. The repayment instalments were geared to the corporate budget.
With that, the acquisition financing in an original amount of EUR 15.5 million provided by the Dresdner Bank in February 2006 as part of AC-Service AG's takeover of All for One Systemhaus GmbH Midmarket Solutions, which as at 31 December 2007 was valued at EUR 11 million after having made regular repayments, is completely repaid.
This newly structured corporate financing will ensure that the investments in new data centers and the further integration of the corporate segments can be made, which in turn form the basis for further growth and increased profitability.