lifePR
Pressemitteilung BoxID: 495767 (IKB Deutsche Industriebank AG)
  • IKB Deutsche Industriebank AG
  • Wilhelm-Bötzkes-Str. 1
  • 40474 Düsseldorf
  • https://www.ikb.de
  • Ansprechpartner
  • Patrick von der Ehe
  • +49 (211) 8221-4776

Amor completes recap with oversubscription

(lifePR) (Frankfurt am Main, ) Amor, the 3i owned German supplier of precious jewellery in the entry-price segment, has received consent from all lenders for its loan amendments and successfully raised € 33.1 million add-on to it's existing senior facilities via Co-ordinators and Bookrunners Commerzbank and IKB Deutsche Industriebank AG. The facility is split between a 5-year term loan A1 paying E+375bps and a 6-year term loan B1 at E+425bps. Syndication was targeted at existing lenders and closed oversubscribed. In addition to the new loan, Amor has extended its existing loans by 2.5 years to 2019 and 2020. The amendments allow 3i to refinance the shareholder loan and part of the initial equity, taking Amor's net senior leverage to the original level at time of the 3i investment. Other documentary changes were also made allowing for wider covenant headroom, more flexibility around permitted distributions, equity cures and higher baskets among others.

The loan increases the € 85.5 million senior financing signed to fund 3i's buyout of Amor in December 2010 which was jointly arranged and underwritten by Commerzbank and IKB. The new total facilities are now greater than € 100 million.

Amor is the leading wholesaler and in-store retailer of affordable jewellery in Germany. Headquartered in Obertshausen near Frankfurt am Main, Amor sells over 5 million pieces of jewellery every year and services at over 1,400 Point of Sales through a number of distribution retailers across the European Market, Canada, Middle East and Australia. The German retail segment in particular has been stable through the latest economic crisis and is now supported by returned consumer confidence.

IKB Deutsche Industriebank AG

IKB Deutsche Industriebank AG supports medium-sized enterprises in Germany and Europe with loans, risk management, capital market services and advisory services.