Gelsenkirchen, 19 June 2013 – Masterflex SE has successfully implemented the new refinancing structure. Now, the first tranche of the syndicated loan totalling up to € 40 million with a duration to June 2018 has been payed out. The second tranche is a revolving credit facility and the third tranche is intended to fund potential acquisitions in the hose business, which the Masterflex Group is targeting as part of its long-term growth strategy. Covenants are equity ratio, interest cover and leverage ratio. However, the state guarantee no longer applies and is not replaced. With this new refinancing loan, Masterflex has not only adjusted its financing structure to changed interest rates and its increased credit rating, but it has also become more independent from lending / financing risks resulting from changes to banking regulations (Basel III).
In addition, Masterflex SE has passed a random audit of its 2011 annual accounts by the “Deutsche Prüfungsstelle für Rechnungslegung” (DPR). Background: The DPR randomly audits the annual accounts of listed German companies to ensure their compliance with the accounting standards. Result of this audit, the group accounting for the financial year 2011 has not been erroneous.