For the term of the agreement, the company has committed itself to the banks not to propose any dividend distribution, as Rosenbauer announced in a press release on Friday afternoon.
- From the archive: Rosenbauer brings in restructuring managers
“The refinancing agreement has a term until November 3, 2025 and in particular provides that all ‘financial covenants’ in existing financing agreements for the financial year ended December 31, 2023 will be suspended and redefined for the duration of the refinancing agreement,” said the global company.
According to preliminary results, 2023 will be in the black
Furthermore, the deal provides for the repayment of claims of the lenders and promissory note loan creditors – from funds from the capital increase for 2024, which was already announced in the ad hoc announcement of February 12th. “Following a corresponding resolution by the company’s shareholders, this should include at least 3,400,000 newly issued shares, “Part of the proceeds of 35 million euros will be used for repayment – as well as from excess liquid funds (cash sweep) in 2025,” explained Rosenbauer.
According to preliminary results, the fire department supplier was back in the black in 2023. The operating result (EBIT) was 37.4 million euros after a loss of 10.6 million euros in the previous year, as the listed company announced in mid-February.
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Source: Nachrichten
