HOCHTIEF has refinanced a long-term syndicated credit facility in the amount of EUR 1.7 billion. With an international banking syndicate, the Group agreed a facility with a tenor of five years from August 9, 2017 and extension options of up to two more years. Of the total amount, EUR 1.2 billion are guarantee facilities and EUR 0.5 billion cash facilities at significantly improved terms. The facility is a key element of the Group's long-term financing strategy.
The early refinancing of the loan which expires in 2019 was well received on the international banking market. Bank demand significantly exceeded the refinancing requirements. This interest was helped along by both the continuously good market environment and the investment grade rating HOCHTIEF received in May 2017 (BBB by Standard & Poor's) as well as by the recently published business figures for the first half of 2017.