Freenet AG

DGAP-News: freenet AG: freenet AG repays debts of 610.0 million euros after sale of Sunrise shares

Friday, November 20, 2020 - 6:00am

syndicated bank loan of 610.0 million euros taken out to finance its equity stake in the Swiss telecommunications provider Sunrise Communications Group AG (Sunrise) acquired in 2016.

Key Points: 
  • syndicated bank loan of 610.0 million euros taken out to finance its equity stake in the Swiss telecommunications provider Sunrise Communications Group AG (Sunrise) acquired in 2016.
  • Through the complete sale of the total of 11,051,578 shares, freenet AG received Swiss francs equivalent to approximately 1.1 billion euros in cash on 11 November 2020.
  • "The sale of the Sunrise shares strengthens freenet AG's capital base in the long term.
  • Thus, freenet AG stands by its promise to use the proceeds from the sale of its Sunrise investment primarily to repay bank liabilities.

DGAP-News: freenet AG: freenet AG successfully places a promissory note loan amounting to 345.0 million euros

Monday, July 27, 2020 - 8:01am

- Despite the difficult market environment caused by Corona, freenet AG places a promissory note loan above the initially announced 300.0 million euros

Key Points: 
  • - Despite the difficult market environment caused by Corona, freenet AG places a promissory note loan above the initially announced 300.0 million euros
    Bdelsdorf, 27July 2020 - freenet AG [ISIN DE000A0Z2ZZ5] has successfully placed a promissory note loan with a total volume of 345.0 million euros to refinance maturing promissory notes.
  • The financing instrument with final maturity consists of three tranches with a 3.5-year, a 5-year and a 6-year maturity.
  • The 6-year tranche of EUR 10.0 million bears interest at an initial margin of 1.90 percent p.a.
  • Based on a step-down mechanism linked to leverage, the initial margin is expected to decrease by 0.30 percentage points over the course.