Wincor Nixdorf AG has successfully syndicated a line of credit of €400 million for a term of five years with two one-year options for extension. Having finalized the new credit agreement on attractive terms, the company can continue to operate flexibly within secured parameters and has long-term access to sufficient cash for its operating activities as well as investments within the context of its growth strategy whenever required.
The joint borrowers Wincor Nixdorf AG and Wincor Nixdorf International GmbH signed a revolving credit facility of €400 million on December 13, 2011. The mandated lead arrangers were BayernLB, Genossenschaftliche FinanzGruppe (a group comprising DZ BANK AG, WGZ BANK AG and Volksbank Paderborn-Höxter-Detmold eG), LBBW, Helaba Landesbank Hessen-Thüringen and WestLB AG.
The facility has a term of five years, including two one-year options for extension, and can be drawn in euros or U.S. dollars. In addition to providing liquidity for the company’s general business requirements, the facility is designed to refinance the existing revolving credit facility of €350 million agreed in August 2005. BayernLB acted as facility agent, while WestLB AG took the role of coordinator and documentation agent. As part of the syndication process three additional banks joined the consortium. "Given the prevailing market climate, it is encouraging that we not only succeeded in completing the allocation but actually closed the syndication well oversubscribed. This underscores the strong position and exceptional credit rating of Wincor Nixdorf AG within the capital markets," said Dr. Jürgen Wunram, Chief Financial Officer of Wincor Nixdorf AG.
Wincor Nixdorf AG is one of the world’s leading providers of IT solutions and services for retail banks and retailers. Consisting of hardware, software and services, the company’s portfolio is aimed at optimizing business processes within bank branches and retail outlets. Ranked first in Europe and second globally in the area of programmable electronic POS systems (EPOSs) and acknowledged as the second-largest supplier of ATMs at a European level and worldwide, Wincor Nixdorf AG has established itself as one of the leaders in its industry. The company’s net sales stand at €2.3 billion (as at September 30, 2011).
Wincor Nixdorf AG has been operating within this market segment for over fifty years and has evolved into a global player spanning more than 110 countries. In May 2004, Wincor Nixdorf AG completed a highly successful IPO. The company has been listed in the MDAX since September of the same year.