TEKA refinances existing credit facility on more favorable terms
Amendment & extension signed for a new five-year period in the amount of EUR 219 million
Replacement of existing 2013 credit facility at much lower interest rates
Sizeable ongoing reduction in annual interest costs
Substantial reduction in the annual amortization amounts
This successful refinancing reinforces Teka’s capital structure and significantly reduces the annual interest costs. It also increases the Group’s financial flexibility to fund future growth due to the improved amortization schedule. This allows Teka to invest strongly in product development and supports its worldwide growth program.
The new facility has been arranged through a Spanish banking syndicate led by BBVA and Banco Santander, which includes Banco Popular, Bankinter, Banco de Sabadell, Caixabank, Bankia, Catalunya and Liberbank.
Teka operates through three business units: Kitchen & Bath, Container and Professional Kitchen generating a turnover of approximately €700 million.
The business unit Kitchen & Bath produces and sells built-in kitchen appliances. The products are sold in over one hundred countries, and Teka has factories across Europe, Asia and America.
The Containers business unit operates under the name THIELMANN and is the world market leader in beers kegs and industrial containers.
The third business unit Küppersbusch offers a wide range of modular cooking appliances and a range of unique automatic cookers for professional kitchen solutions for hotels, restaurants and other businesses needing large professional kitchens.