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Strabag SE Strengthens its Financial Position: € 400m Cash Credit Line

Published: December 21, 2012; 13:45 · (Vindobona)

The publicly listed European construction company STRABAG SE has arranged a revolving syndicated cash credit line in the amount of € 400m with a consortium of banks.

Strabag SE Strengthens its Financial Position: € 400m Cash Credit Line / Picture: © Strabag SE

With a term of five years, the credit line represents a long-term loan commitment with which STRABAG will be able to maintain its comfortable liquidity position.

The syndicated cash credit line partially replaces already existing short-term bilateral credit lines, provides an overall improvement of the liquidity reserves and in particular can be used to balance out the cash infusions as required over the course of the year. “The positive experience with the 2010 syndicated surety loan spoke in favour of the syndication also of the cash credit line”, says Hans Peter Haselsteiner, CEO of STRABAG SE.

The bank consortium consists of Bayern LB, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, Deutsche Postbank International S.A., Landesbank Baden-Württemberg, Raiffeisen Bank International AG, SEB AG and UniCredit Group – with Raiffeisen Bank International AG and UniCredit Bank Austria AG as agents.

Strabag SE is one of Europe’s leading construction groups. With 76,900 employees, STRABAG generated a construction output volume of € 14.3bn in the 2011 financial year. From its core markets of Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and on the Arabian Peninsula. STRABAG’s activities span the entire range of construction services (Building Construction & Civil Engineering, Transportation Infrastructures, Special Ground Engineering and Tunnelling) and cover the entire value chain in the field of construction. More information is available at www.strabag.com

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