Kendrion AGM confirms all proposals and announces refinancing
The shareholders approved the distribution of a dividend of EUR 0.69 per share, representing a payment of dividend of 50% of the normalised net profit for 2021. The payment of the dividend will be made in cash, or, at the option of shareholders, in the form of ordinary shares.
The voting results per agenda item are published on this page.
Kendrion furthermore announces that it has raised EUR 72,500,000 through a sustainability linked transaction in the Schuldschein market. The split in maturities is EUR 52,500,000 in five years and priced at a spread of 125 bps and EUR 20,000,000 in three years with a spread of 100 bps. Pricing can vary with +/- 5 bps depending on the development of Kendrion’s sustainability rating of Ecovadis. The volume was initially announced at EUR 50,000,000 and was increased due to strong demand from investors.
In addition, Kendrion has reached an agreement on key terms with ING Bank and HSBC Bank on a EUR 102,500,000 sustainability linked revolving facility agreement with a maturity of three years and a possible extension with up to two years. The proceeds of the Schuldschein and the revolving facility agreement will be used to refinance Kendrion’s existing EUR 162,500,000 syndicated facility agreement.
Amsterdam, 11 April 2022
The Executive Board
For more information, please contact:
Mr. Joep van Beurden
Chief Executive Officer
Tel: +31 6 8330 1112
Press release: Kendrion AGM confirms all proposals and announces refinancing