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• Bank syndicate supports progress and further implementation of ACT growth strategy
• Expansion of financing volume to EUR 150 million at improved terms and conditions
• Early amendment and extension of the syndicated loan agreement to 2023 increases the FP Group’s financial flexibility
Berlin, 22 October 2018 – The FP Group, the expert in secure mail business and secure digital communication processes, has made an early extension, at the same time expanding the syndicated loan agreement it has had in place since 2016. Improved terms and conditions will take effect at the same time. The amendment agreement confirms and deepens the trusting and cooperative partnership between the FP Group and the bank syndicate, comprising Commerzbank Aktiengesellschaft, Landesbank Baden-Württemberg, Postbank Luxemburg – a subsidiary of DB Privat- und Firmenkundenbank AG and UniCredit Bank AG.
The amendment agreement, with its favourable terms, reflects the Group’s positive performance since 2016. FP is also making use of the favourable market environment and securing its financing for the long term.
The amendment agreement expands the finance volume to EUR 150 million (previously EUR 120 million) in conjunction with an increase option of EUR 50 million (previously EUR 30 million). The amended syndicated loan agreement has a term of five years to 2023 (previous term: 2021) and can be extended by up to two years. It now therefore covers the entire implementation period of the ACT growth strategy and gives FP greater financial scope for its implementation, including future M&A activities.
“After less than two years, we are already seeing tangible progress in the implementation of the ACT strategy. Our banks recognise this,” emphasizes FP CEO and CFO Rüdiger Andreas Günther. “Although we still have a lot to do, our syndicate has a positive view of our prospects and is supporting the consistent continuation of our growth and transformation.”
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About Francotyp-Postalia (FP)
The FP Group, a listed international company headquartered in Berlin, is an expert in secure mail business and secure digital communication processes. As the market leader in Germany and Austria, the FP Group offers products and services for efficient mail processing, consolidation of business mail and digital solutions for businesses and authorities with its product segments "Franking and Inserting", "Mail Services" and "Software". The Group generated revenue of more than EUR 200 million in 2017. Francotyp-Postalia is represented in ten countries with its own subsidiaries and in a further 40 countries via its own network of dealers. Thanks to a history spanning more than 95 years, FP has a unique DNA in the fields of actuator and sensor technology, cryptography and connectivity. It has a share of over 11% in the global market for franking systems.
You can find out more at www.fp-francotyp.com.