Wednesday 28th Sep 2016 - Logistics Manager

Forklift giant in €1.5bn refinance deal

Kion, the forklift truck group, has completed a €1.5 billion refinancing project that reduces interest costs and provides greater flexibility.

The group’s brands include: Linde Material Handling, Still, Egemin Automation, Fenwick, OM Still, Baoli, and Voltas.

The measures include repayment of a €450m bond – the last step by Kion to transform its financing structure dating from before its IPO in June 2013.

“These financing transactions are further important milestones for the Kion Group, because we are now set up also on the financing side as an established listed corporate,” said the CFO Thomas Toepfer.

“We have now left the last elements of our financing from the early days of the Kion Group behind us. The new financing with investment grade style features significantly improves the terms for the Kion Group and its flexibility to pursue its profitable growth.”