VIENNA—Semperit A.G. Holding has secured a corporate Schuldschein loan for $164 million, with a weighted average interest rate of 2.35 percent.
Proceeds will be used to refinance liabilities incurred in connection with the acquisition of Latexx Partners, Malaysia, in 2012, the company said. In addition, the cash inflow will also be used to implement the on-going growth program of the Semperit Group, which makes industrial products such as gloves and conveyor belts.
"The issuing of the corporate Schuldschein loan represents an important step towards the diversification and further optimization of the Group's financing. By issuing the Schuldschein, we are taking advantage of the on-going attractive interest rate level, especially with respect to the long tenures, and are thus preparing for further growth steps," said Johannes Schmidt-Schultes, Chief Financial Officer of Semperit.