JOST Werke SE Secures EUR 320 Million Promissory Note Loan

JOST Werke SE has successfully placed a promissory note loan amounting to EUR 320 million. Initially planned for EUR 125 million, high investor interest led to the upsizing of the loan. With favorable conditions achieved at the lower end of the margin range, this financing helps JOST redeem bridge financing used for its acquisition of Hyva.

The new loan, with tranches of three, five, and seven years, enhances JOST's financial security and flexibility. It is noteworthy that this arrangement comes without financial covenants. The absence of such terms may offer the company a broader operational latitude.

CEO Joachim Dürr highlighted the confidence global investors have in JOST's long-term strategy. CFO Oliver Gantzert considers this financing a pivotal step in integrating Hyva, aiming to leverage synergies and reduce debt. Bayerische Landesbank, BNP Paribas, and Commerzbank AG acted as Joint Lead Arrangers.