EQS-News: PALFINGER AG Issues ESG-linked Promissory Note Worth EUR 150 Million

EQS-News: Palfinger AG / Key word(s): Financing
PALFINGER AG Issues ESG-linked Promissory Note Worth EUR 150 Million

21.04.2023 / 10:31 CET/CEST
The issuer is solely responsible for the content of this announcement.

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PALFINGER AG Issues ESG-linked Promissory Note Worth EUR 150 Million

Bergheim, Austria on April 21, 2023
 

• Successful placement of an ESG-linked promissory note worth EUR 150
million underlines focus on sustainability
• Tranches with maturities of three, five and seven years
• Significant oversubscription due to high investor demand despite a
challenging market environment
• Linked to carbon emissions and accident rate as sustainability KPIs

PALFINGER AG has successfully issued an ESG-linked promissory note loan
with a volume of EUR 150 million. The payout is scheduled for April 24,
2023.

The promissory note transaction comprises five tranches with terms of
three, five and seven years, the majority of which are offered with
variable interest rates. Following strong demand from investors, the
original initial term sheet volume was significantly oversubscribed and so
PALFINGER decided to increase the volume.  The interest rate on all
tranches was fixed at the lower end of the market band. Around 40
investors from Austria and abroad have participated in the promissory note
loan. The highly successful transaction was arranged by Erste Group Bank
AG and Landesbank Baden-Württemberg, using the digital promissory note
platform DEBTVISION.

“Our goal was to attract a broad spectrum of investors to PALFINGER also
on the borrowed capital side. I am pleased that we have clearly succeeded
once again in issuing this promissory note. Especially in this challenging
economic environment, I see this as a strong vote of confidence in the
PALFINGER group,” says Felix Strohbichler, CFO of PALFINGER AG.

PALFINGER will use the promissory note loan to refinance maturing loans
and finance the investments planned for 2023.

The terms of the promissory note loan are linked to two sustainability
KPIs: production related carbon emissions and the accident rate. The
achievement of sustainability KPIs is audited annually, with a margin
step-up/down if the target values are reached or are not achieved.

Sustainability has been a focus of PALFINGER AG for many years. In the
company’s Strategy 2030, the topic of sustainability plays an important
part. An internal Sustainability Council ensures the implementation of
PALFINGER’s ESG strategy and the sustainable transformation within the
company.

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ABOUT PALFINGER AG
PALFINGER is an international technology and mechanical engineering
company and the world’s leading producer and provider of innovative crane
and lifting solutions. With over 12,200 employees*, more than 30
manufacturing sites and a worldwide sales and service network of around
5,000 service points, PALFINGER creates added value from the challenges of
its customers. PALFINGER is consistently continuing on its course as a
provider of innovative, complete solutions that deliver increased
efficiency and better operability, while leveraging the potential of
digitalization along the entire production and value chain.
PALFINGER AG has been listed on the Vienna stock exchange since 1999, and
in 2022 achieved record revenue of EUR 2.2 billion.

* Excluding contingent workers

For further information please contact:  
Hannes Roither | Group spokesperson | PALFINGER AG  
T +43 662 2281-81100 | [1]h.roither@palfinger.com 

Texts and accompanying images are available in the “News” section of
www.palfinger.ag, www.palfinger.com.
 

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21.04.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: Palfinger AG
Lamprechtshausener Bundesstraße 8
5020 Salzburg
Austria
Phone: +43 (0)662/2281-81101
Fax: +43 (0)662/2281-81070
E-mail: ir@palfinger.com
Internet: www.palfinger.ag
ISIN: AT0000758305
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1612917

 
End of News EQS News Service

1612917  21.04.2023 CET/CEST

References

Visible links
1. h.roither@palfinger.com

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