Cologne, Germany, October 16, 2013 – In light of the voluntary takeover offer from AVIC the management board of KHD Humboldt Wedag International AG has taken the decision not to participate in the “Deutschen Eigenkapitalforum” in November in Frankfurt.
KHD Humboldt Wedag International AG (KHD) has replaced its existing bonding line facility with a new long-term solution. On August 25, 2014, KHD cancelled its existing bonding line facility with a consortium of banks, which had issued bank guarantees of over € 80.3 million as per December 31, 2013. The Group replaced this facility with two bilateral bonding line agreements with the Deutsche Bank AG (€ 40 million) and the Raiffeisen Bank International AG, Wien (€ 38 million).
KHD Humboldt Wedag International AG (KHD), Cologne, is updating its annual budget and adjusting its forecast for the 2014 financial year accordingly. Although the Parts & Services segment is expected to perform better than originally planned, the Capex segment has been strongly affected by risks arising from the current economic and political developments.
KHD Humboldt Wedag International AG (KHD) has entered into a € 50 million loan agreement with AVIC International (HK) Group Ltd., Hong Kong, as the borrower.