Grammer secures EUR 260 million refinancing package to support strategic transformation
By Luke Willetts - 8th January 2025
Germany – Grammer AG of Ursensollen, Bavaria, maker of seating systems and interior components for commercial vehicles and passenger cars , successfully refinanced its long-term debt on December 20, 2024, securing EUR 260 million in new credit in a tumultuous financial environment.
According to a statement by Grammer representatives, “the new financing structure consists of a syndicated loan from five banks in China and a syndicated revolving working capital loan facility from five banks in Germany. Already in spring, syndicated loan tranche C, with the participation of KFW, was refinanced in the amount of EUR 230 million by a bilateral credit line of EUR 200 million with a term of three years coming from China. In addition, Grammer received subordinated loans from the majority shareholder Ningbo Jifeng totalling EUR 70 million. The maturities of the new financing structure are between 2.5 and 3 years”.
