With this refinancing, HENSOLDT is replacing the previous leveraged buyout (LBO) financing with an unsecured, flexible corporate financing structure. A key difference is the removal of the collateral previously in place under the refinanced syndicated loans. This gives the company additional entrepreneurial freedom of action, enabling it to make strategic decisions more quickly and independently of external lenders in the future.
The new financing consists of a long-term syndicated loan with a bullet maturity facility of €850 million, a bridge facility of €150 million and two revolving credit facilities of €400 million each, which can be used as guarantees or cash loans as needed. All terms and conditions were noticeably improved by the new financing. This results in an optimised capital structure and a more stable interest charge over the long term.
The refinancing met with great interest in the financial market and was fully supported by all participating banks. Overall, the banks' commitment was well above the actual volume required, which underlines the company's strong development in recent years and HENSOLDT's high attractiveness as a borrower.
Christian Ladurner, CFO of HENSOLDT, says: “HENSOLDT is in a phase of dynamic growth. Therefore, expanding our capacities and driving forward innovative technologies such as software-defined defence are central elements of our corporate strategy. With the new financing structure, we are creating the economic basis to consistently pursue these growth targets. At the same time, the higher financial flexibility ensures that we can respond even faster and in a more targeted manner to new market opportunities.”
Sonja Hendl, Head of Treasury at HENSOLDT, adds: “The new financing structure is a great success for HENSOLDT. It not only improves our financing terms but also provides us with the necessary financial headroom for future investments in the future of our company. In particular, the replacement of the previous security gives us significantly greater entrepreneurial freedom of action.”
