Praktiker Bau- und Heimwerkermärkte Holding AG
Credit line subscribed
Significant oversubscription – Ten banks participating
Kirkel, Germany – 7 May 2007. The new syndicated credit line of Praktiker Group has been subscribed today. At the end of March Praktiker had mandated an international consortium of banks headed by ABN AMRO Bank N.V., Dresdner Kleinwort and WestLB AG to arrange a new syndicated line of credit to substitute the existing one. According to information provided by the consortium, there was a significant oversubscription. Overall, the consortium encompasses ten banks.
The credit line has a volume of 200 million euros, a term of five years and can be extended twice by one year on each occasion. It replaces the existing credit line of 165 million euros. The new credit line will serve as an additional general financial reserve thereby extending the scope of Praktiker Group to draw on liquid funds.