RHI Magnesita NV on Thursday reported a new €320 million environmental, social, and corporate governance-linked debt financing.
The Vienna-based supplier of refractory products said it consists of a €170 million Schuldschein bond and the refinancing of its €150 million term loan with UniCredit Bank Austria AG, the latter of which was increased from €115 million. RHI Magnesita said its increased term loan with UniCredit was extended to mature in 2026.
A Schuldschein is essentially an IOU. It is similar to a bond, but less expensive and acknowledges debt.
Chief Financial Officer Ian Botha said: ‘The Schuldschein and term loan financing totalling €320 million of long-term liquidity extends our amortization profile and has been secured at competitive rates of interest. These facilities will contribute to maintaining high levels of liquidity and reaffirm our commitment to improving our ESG performance.’
RHI Magnesita shares were 0.3% higher at 2,220.00 pence each in London on Thursday morning.
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