Gestamp announces its intention to issue senior secured notes
Gestamp Automoción, S.A. (“Gestamp”) announced today that its subsidiary Gestamp Funding Luxembourg S.A. intends to issue senior secured notes due 2020 for an approximate amount of €750 million equivalent. Gestamp and certain of its subsidiaries will guarantee the notes and the notes will be secured by a first-ranking charge over the shares of certain subsidiaries of Gestamp. On 19 April 2013 Gestamp and certain of its subsidiaries entered into a senior term and revolving facilities agreement for an aggregate principal amount of €850 million.
The net proceeds of the issuance of the notes together with the amounts drawn under the senior term and revolving facilities agreement will be primarily used to refinance certain existing credit facilities and pay commissions, fees and other expenses associated with the issuance of the notes.
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