DGAP-Ad-hoc: NANOGATE SE / Key word(s): Financing/Banking Syndicate
Nanogate Arranges for Extension of Covenant Suspension
Göttelborn, Germany, April 15, 2020. Nanogate SE, a leading global technology company for design-oriented, multifunctional components and surfaces, has agreed today with the lending banks on an extension of the suspension of the leverage covenant of the syndicated loan agreement of May 2018 until August 31, 2020. The interest margin will remain unchanged during this time. The agreement on the further covenant suspension includes certain conditional measures that are intended to compensate for the liquidity needs caused by the COVID-19 pandemic and to sustainably improve the general liquidity situation of the Group. The syndicate banks and Nanogate will continue to work together in a constructive, active and solution-oriented manner with the aim of adjusting credit contracts for the longer term.
Reporting party: Götz Gollan, CFO Nanogate SE
Information and Explanation of the Issuer to this News:
Christian Dose | WMP Finanzkommunikation GmbH
Nanogate (ISIN DE000A0JKHC9) is a leading global technology company for design-oriented, multifunctional components and surfaces. The Group employs around 1,800 people. Nanogate develops and produces design-oriented surfaces and components and enhances them with additional properties (e.g. nonstick, scratchproof, anticorrosive). The Group has first-class references (e.g. Airbus, Audi, August Brötje, BMW, BSH Hausgeräte, Daimler, FILA, Ford, Fresenius, GM, Jaguar, Junghans, Porsche and Volkswagen). Several hundred mass production projects for customers have already been implemented successfully. The Nanogate Group is represented on both sides of the Atlantic and in India.
True to its slogan 'Reinventing the Possible', Nanogate is a long-standing innovation partner who opens up the diverse possibilities offered by new materials to companies in a wide range of industries. It aims to improve customers' products and processes and to provide environmental benefits by using multifunctional surfaces, such as those made of plastic or metal, and innovative plastic components. The Group focuses on attractive applications, primarily for the mobility, aviation, home appliances, interior, leisure, and medical sectors - its target industries. As a systems provider, Nanogate broadly covers the value chain: design and engineering, materials development for surface systems, series coating of various different substrates as well as the production and enhancement of complete plastic components. The main value drivers are the opening up of international markets and the development of new applications, particularly for the three strategic areas Intelligent Surfaces, New Mobility and Artificial Metals.
This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Nanogate SE (the 'Shares') may not be offered or sold in the United States or to or for the account or benefit of 'U.S. persons' (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the 'Securities Act')). No offer or sale of transferable securities is being made to the public.
15-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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1022517 15-Apr-2020 CET/CEST