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Thứ Năm, 14 tháng 11, 2013

SAP Signs EUR2 Billion Revolving Credit Facility - NASDAQ

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By Friedrich Geiger

FRANKFURT--SAP AG (SAP) has signed a 2 billion euro ($2.7 billion) revolving credit line to replace a EUR1.5 billion credit facility which would have expired in 2015, the German software maker said Thursday.

"The revolving credit line was early refinanced due to favorable market conditions," said the company.

The new credit facility has a tenor of five years and two one-year extension options. The size was increased to support SAP's strong growth. The credit line may be used for general corporate purposes.

"With this new credit facility in place, we enhanced our financial flexibility and lowered significantly our financing costs," said Chief Financial Officer Werner Brandt.

The transactions' bookrunners and lead arrangers are Citigroup Inc. ( C ), Deutsche Bank AG ( DB ), Landesbank Hessen- Thueringen and Bank of Tokyo-Mitsubishi UFJ, Ltd. Twenty-seven banks are participating in the new facility, leading to an oversubscription of more than 60%, according to SAP.

Write to Friedrich Geiger at

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