Business News
Thursday 04. October 2012

Axel Springer AG secures a revolving credit facility of EUR 900 million

Axel Springer AG has renewed an expiring credit line of originally EUR 1.5 billion to secure its medium-term financing requirements. Therefore the company concluded a revolving credit facility of EUR 900 million. The credit will run over a period of five years, the terms are between 40 and 50 basis points above the interbank rate. A total of ten national and international banks are participating in this loan. The financial institutions which arranged the loan are Commerzbank, Landesbank Hessen-Thüringen, Société Générale and Unicredit. The transaction generated considerable interest and was therefore oversubscribed.

Thursday 04. October 2012

Glatfelter Announces Offering Of Senior Notes

P. H. Glatfelter (“Glatfelter”) (NYSE:GLT) announced today that it intends to offer approximately $200 million in aggregate principal amount of senior notes due 2020 (the “Notes”). The net proceeds from the offering of the Notes are expected to be used to fund the previously announced cash tender offer by Glatfelter for any and all of its outstanding 7?% senior notes due 2016 (“2016 Notes”) and to retire any 2016 Notes not purchased in such tender offer through one or more redemptions, subsequent tender offers or open market purchases (although Glatfelter is under no obligation to take any such actions).

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