Home News Grammar secures credit line of EUR 110 million

Grammar secures credit line of EUR 110 million

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AMBERG (Dow Jones) – The automotive supplier Grammar has a Consortium of banks a credit line of EUR 110 million agreed upon. The duration amounts to three years, said that Grammar AG of Amberg on Monday. Compared to the previous line of credit, this corresponded to an increase of EUR 20 million or more than 20%.
"We now have planning certainty for future Projects and investments in order to secure our growth in the coming years, "said Chief Financial Officer Alois Ponnath. In addition to the new Credit line for short-term drawings Grammar is the further particulars to still be a long-term promissory notes in the amount of EUR 70 million and will run until August 2013 are available.
The financial results for the year 2009 wants to Grammar 31 Published in March.

   

Website: www.grammer.com

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(END) Dow Jones Newswires

March 15, 2010 06:45 ET (10:45 GMT)