Balda AG repays 6.5 million euros of current liabilities
May 26, 2009 | by Balda AG
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May 26, 2009, Balda AG, listed in the Prime Standard of the Frankfurt Stock Exchange, in the month of May repaid liabilities amounting to in sum 6.5 million euros. Of these, 2.5 million euros went to a bond creditor outside the group of consortium banks. An additional 4.0 million euros were paid back to the consortium banks. Balda CEO Dr. Dirk Eichelberger considers these repayments a confirmation of Balda’s now ongoing stabilization, including the financial situation.
Balda AG was obliged to repay a liability of 5.0 million euros to a creditor outside of the consortium banks, as outlined in the first quarterly report 2009. For reasons of equality of treatment the consortium banks of the Group had to agree to the payment of the previously named sum. The partial repayment of 2.5 million euros to the bond creditor and the 4.0 million euros to the banks was undertaken in agreement with the consortium banks. Balda is going to repay a further 8.5 million euros in 2009. Of these, a partial amount of 4.5 million euros will be repaid on short notice. Repayments since early May will by then have amounted to a total of 11 million euros.
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Source: Balda AG, Press release