Surteco concludes €200 million five-, seven-, 10-year loan agreement

By Devika Patel

Knoxville, Tenn., Oct. 18 – Surteco SE said it settled a €200 million Schuldschein private placement assignable loan agreement. The original target for this placement was €100 million, the company noted in a press release.

The issue volume is distributed over terms of five, seven and 10 years, primarily at fixed interest rates.

Bayerische Landesbank and Deutsche Bank AG were the arrangers.

“We are delighted about the very high level of interest demonstrated by investors in our transaction,” chief financial officer Andreas Riedl said in the release.

“This has enabled us to take advantage of the current low level of interest rates and to secure favorable financing conditions with very attractive framework conditions over the long term,” Riedl stated.

Surteco is a Buttenwiesen-Pfaffenhofen, Germany-based developer, designer, producer and marketer of surface materials based on paper and plastics.

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