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MAX Automation AG secures Group financing through 2024
- Consortium loan increased by EUR 40 million to EUR 190 million
- Favorable financing environment allows for better conditions
MAX Automation AG has extended and expanded its Group financing. The company that specializes in high-tech mechanical engineering has agreed on an increase of the consortium loan taken out in 2015 by EUR 40 million to a total volume of EUR 190 million. The original term was extended with the signing and includes renewal options until the year 2024.
MAX Automation AG took advantage of the persistently favorable financing environment and negotiated improved conditions so that it is unlikely that any higher interest expenses can be expected even despite the higher credit volume. At the same time, the company agreed with its banks on more comfortable financial covenants.
The consortium loan is being provided by Commerzbank (the consortium leader), Deutsche Bank, the LBBW Group, HypoVereinsbank and the Raiffeisenverband Salzburg. It primarily serves to finance further internal as well as external growth in important future markets and thus the execution of the growth strategy 2021.
Fabian Spilker, CFO of MAX Automation AG: "With this increase in the syndicated loan, we have created additional financial leeway for our growth plans and the execution of our strategy 2021. The agreed conditions and framework conditions confirm the good reputation our company has in the banking world and on the capital market."
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