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DDM Holding AG
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DDM makes significant loan repayments in excess of EUR 8M, including the redemption of its 18% subordinated notes
DDM Holding AG (First North: DDM), a specialist investor in and manager of non-performing loans and distressed assets, announces that it has made significant loan repayments in excess of EUR 8M during the third quarter of 2016.
The loan repayments include the full redemption of the SEK 31M 18% subordinated notes issued by DDM Treasury Sweden AB on their final maturity date of 30 September 2016. In addition, repayments of about EUR 3M were made on the EUR 11M bond issued in July 2016, following strong performance by the recently acquired Slovenian portfolio. Additionally, EUR 2M out of the EUR 4M of short-term borrowings granted in March 2016 were repaid during the quarter.
The loan repayments were financed using cash on hand. These repayments have enabled DDM to reduce its gross debt by more than 15% compared to reported gross debt as per end of Q2 2016 and the new bond of EUR 11M raised in July. It also means a reduction in its cost of debt.
Roschier acted as DDM’s legal advisors in conjunction with the redemption of the subordinated notes.
This information is information which DDM Holding AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 a.m. CET on 3 October 2016.