Press release from: 29 June 2012
SMARTRAC Further Strengthens its Financial Flexibility by a EUR 100 Million Term and Revolving Facilities Agreement
SMARTRAC N.V., the leading developer, manufacturer and supplier of RFID transponders and inlays, today announced that it refinances its EUR 65 million term and multicurrency revolving facilities agreement maturing on June 30, 2012.
SMARTRAC has signed a EUR 100 million term and revolving facilities agreement replacing the syndicated EUR 65 million term and multicurrency revolving facilities agreement concluded in 2009 with Deutsche Bank and Berenberg Bank.
The new EUR 100 million term and revolving facilities agreement concluded with a syndicate of five banks matures on December 30, 2016. Deutsche Bank AG acted as Mandated Lead Arranger and Bookrunner for the new term and revolving facilities agreement and Deutsche Bank Luxembourg S.A. as Agent. Commerzbank Aktiengesellschaft, Stuttgart, and Landesbank Baden-Württemberg acted as Mandated Lead Arrangers, NIBC Bank N.V. acted as Senior Lead Arranger, and Berenberg Bank Joh. Berenberg, Gossler & Co. KG acted as Lead Arranger.
“We are very pleased that we have strong financial partners on our side”, said Dr. Christian Fischer, CEO of SMARTRAC. “The increased amount, longer duration and further diversification of the bank syndicate is not only a sign of huge trust placed in our company and business strategy, but also provides the financial flexibility for future growth opportunities for SMARTRAC.”
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays. The company produces ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, electronic product identification, industry, libraries and media management, laundry, logistics, mobile & smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs about 4,000 employees and maintains a global research and development, production, and sales network.
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To the extent that this press release contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.