Cooperative Landgard now has complete a new , significantly improved , prospicient - terminus refinancing two years before the current financing was up for expiration . This means the funding of the well - sleep together Landgard producer co - operative - with a annual employee turnover of over 1.9 billion euro and 3,300 member - is secure for the foresighted - term , up to the class 2023 .

The fresh funding has a maximum term of five years with a canonical three - year terminus and an option for a two - twelvemonth lengthiness . The sake pace levels were further optimized in line with food market status and this all will definitively lead to importantly lower funding costs for Landgard , from 2019 onwards .

Regional and national focusThe funding was set up and implement by the two mandated lead arrangers ( MLA or syndicate leaders ) DZ Bank and Commerzbank with the general support of the NIBC . The acquired funding is composed of a banking portfolio of 10 institutions , with a regional and national nidus and , in particular , with creation whose structure fits the strategic direction of the Landgard co-op and the mart that are relevant to their activities .

The legal bread and butter , testing and execution on the Landgard side take plaza by the well prove team of the legal philosophy house of Aderhold , dr . Teacher and dr . Hoppe . " With the new tenacious - term financing and working line structure , Landgard has been able-bodied to amply achieve all of its object , such as adequate and flexible liquidity , dilute the dependance on bank funds , thin out complexity , and sure restructuring live collateral costs and slenderize succeeding financing costs . "

Restructuring"A key prerequisite for the new refinancing that was now made potential , was the regained trust through the successful restructuring of Landgard , the constitutive increase of this entity throughout the late days , the new strategic orientation and the integrity and transparence regarding its member companies , strategic customers and external mate . As a solution of all these developments , we are now also in a position to redeem the res publica warranty from the state of North Rhine - Westphalia , which originated from the restructuring , ahead of schedule because it is simply no longer necessary due to the systematic reduction of old bank liabilities in the event of a parallel build - up of equity . "

" We expressly want to thank DZ Bank , Commerzbank and the NIBC as well as the other next financiers of Landgard and the state of North Rhine - Westphalia for their support in the past and in the future . And we would like to give thanks our member companies and client for their reliance , and our employee for their dedication . On the Landgard side of thing , we thank our CFO , Carsten Bönig , and our head of Finance and Accounting , Michael Maas , who led the project . "

hereafter - orient investments"Together , we have achieve a large deal for the producer cooperative Landgard . Thank you , " say Armin Rehberg , CEO of Landgard eG. With this financing , Landgard is simultaneously preparing for the future and it is consistently endow in futurity - orientate investments in IT , location optimisation such as the building of the Neuss cash & conduct market and new warehouse location such as Rade , Berbersdorf or Munich .

Source : Landgard eG