EQS-News: PALFINGER AG Issues ESG-linked Promissory Note Worth EUR 150 Million

EQS-News: Palfinger AG / Key word(s): Financing
   PALFINGER AG Issues ESG-linked Promissory Note Worth EUR 150 Million

   21.04.2023 / 10:31 CET/CEST
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   PALFINGER AG Issues ESG-linked Promissory Note Worth EUR 150 Million

   Bergheim, Austria on April 21, 2023
    

     • Successful placement of an ESG-linked promissory note worth EUR 150
       million underlines focus on sustainability
     • Tranches with maturities of three, five and seven years
     • Significant oversubscription due to high investor demand despite a
       challenging market environment
     • Linked to carbon emissions and accident rate as sustainability KPIs

   PALFINGER AG has successfully issued an ESG-linked promissory note loan
   with a volume of EUR 150 million. The payout is scheduled for April 24,
   2023.

   The promissory note transaction comprises five tranches with terms of
   three, five and seven years, the majority of which are offered with
   variable interest rates. Following strong demand from investors, the
   original initial term sheet volume was significantly oversubscribed and so
   PALFINGER decided to increase the volume.  The interest rate on all
   tranches was fixed at the lower end of the market band. Around 40
   investors from Austria and abroad have participated in the promissory note
   loan. The highly successful transaction was arranged by Erste Group Bank
   AG and Landesbank Baden-Württemberg, using the digital promissory note
   platform DEBTVISION.

   “Our goal was to attract a broad spectrum of investors to PALFINGER also
   on the borrowed capital side. I am pleased that we have clearly succeeded
   once again in issuing this promissory note. Especially in this challenging
   economic environment, I see this as a strong vote of confidence in the
   PALFINGER group,” says Felix Strohbichler, CFO of PALFINGER AG.

   PALFINGER will use the promissory note loan to refinance maturing loans
   and finance the investments planned for 2023.

   The terms of the promissory note loan are linked to two sustainability
   KPIs: production related carbon emissions and the accident rate. The
   achievement of sustainability KPIs is audited annually, with a margin
   step-up/down if the target values are reached or are not achieved.

   Sustainability has been a focus of PALFINGER AG for many years. In the
   company’s Strategy 2030, the topic of sustainability plays an important
   part. An internal Sustainability Council ensures the implementation of
   PALFINGER’s ESG strategy and the sustainable transformation within the
   company.

   +++

   ABOUT PALFINGER AG
   PALFINGER is an international technology and mechanical engineering
   company and the world's leading producer and provider of innovative crane
   and lifting solutions. With over 12,200 employees*, more than 30
   manufacturing sites and a worldwide sales and service network of around
   5,000 service points, PALFINGER creates added value from the challenges of
   its customers. PALFINGER is consistently continuing on its course as a
   provider of innovative, complete solutions that deliver increased
   efficiency and better operability, while leveraging the potential of
   digitalization along the entire production and value chain.
   PALFINGER AG has been listed on the Vienna stock exchange since 1999, and
   in 2022 achieved record revenue of EUR 2.2 billion.

   * Excluding contingent workers

   For further information please contact:  
   Hannes Roither | Group spokesperson | PALFINGER AG  
   T +43 662 2281-81100 | [1][email protected] 

   Texts and accompanying images are available in the “News” section of
   www.palfinger.ag, www.palfinger.com.
    

   ══════════════════════════════════════════════════════════════════════════

   21.04.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Palfinger AG
                Lamprechtshausener Bundesstraße 8
                5020 Salzburg
                Austria
   Phone:       +43 (0)662/2281-81101
   Fax:         +43 (0)662/2281-81070
   E-mail:      [email protected]
   Internet:    www.palfinger.ag
   ISIN:        AT0000758305
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1612917


    
   End of News EQS News Service


   1612917  21.04.2023 CET/CEST

References

   Visible links
   1. mailto:[email protected]

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

print