Printing Industry News for Canada | RSS |
12 August 2020
Heidelberg Paying Off Debt
GERMANY—
Heidelberg plans to pay back the remaining $177 million US on the bonds, which has a interest rate of 8% .The bonds were originally due to mature in 2022. Heidelberg is able to make the payback from its cash reserves from the the $354 million US reserve transferred out of its pension scheme earlier this year, and the sale of Gallus last month.
Heidelberg described it as “the next milestone” in its financial stabilisation process, and would "unburden" its financial result by around $14 million a year. CEO Rainer Hundsdörfer said the move would also give the group leeway for future investments. CFO Marcus Wassenberg commented: “We are keeping our word and are working full speed ahead to consistently implement the measures announced in the program we presented in March to increase profitability, competitiveness and to secure our future.
Post a Comment
Comments:
NEW ON THE JOB BOARD | RSS
CLICK HERE to post your job opening
LATEST USED EQUIPMENT | RSS
CLICK HERE to list your equipment
Total Used Equipment Listings: 18
CLASSIFIED | RSS
CLICK HERE to list your business opportunity in the printing industry
Most Recent News Comment
Rick says: | |
Most Read Stories