In February this year, APS successfully concluded a bond refinancing deal with Unicredit Bank Czech Republic and Slovakia, a.s. APS Finance a.s., a subsidiary of APS Holding S.A. acting as a treasury unit for APS Group, has taken an amortized four-year term loan of a nominal value of EUR 14 million, fully redeemable by June 2025.
APS Finance a.s. raised bonds financing on the Prague Stock Exchange in late 2018 and the second tranche followed in early 2019. The total size of the bond issue, arranged by J&T BANKA, a.s., was EUR 25 million.
The trigger for the early repayment of issued bonds was an updated strategic plan and effects of the COVID pandemic in 2020 on financial markets. “The loan proceeds will be used for the outstanding amount of the bond financing and for the future business development of APS Group,” says CEO Martin Machon.
The loan is structured on a floating EURIBOR-based interest rate and a balloon payment of the residual principal at maturity. APS was advised on the transaction by Schoenherr, a legal firm.