DGAP-News: Balda AG: Balda AG concludes ABS agreement with LBBW


Balda AG / Key word(s): Miscellaneous

15.05.2006 13:09


Group sells European receivables to Landesbank Baden-Württemberg

Bad Oeynhausen – The Balda Group has securitised its European receivables

in the context of an ABS transaction constructed by Landesbank

Baden-Württemberg (LBBW). The agreement relating to the sale of existing

receivables replaces the syndicated loan agreement from 2003. Additionally

Balda AG has further credit lines at its disposal.

The volume of the initial sale under the deal, which is set to last seven

years, comprises around EUR 40 million. The maximum possible scope of the

deal amounts to EUR 60 million. It includes the receivables of Balda’s

German subsidiaries and of Balda Solutions Hungaria. The agreement

represents the first ABS arrangement in which a Hungarian company has

financed its trade accounts receivable via the capital market.

LBBW will refinance the purchase of the receivables by means of the issue

of short-term bonds (commercial papers). As a result of the contractual

arrangement of the deal, Balda has achieved the complete removal of the

sold receivables from the balance sheet. This effect is also valid under

the more rigorous provisions of the ‘International Financial Reporting

Standards’ (IFRS). With this agreement, Balda has secured and expanded its

finance structure in the long term, particularly in the European region.

Balda AG

Cersten Hellmich

Kathrin Wiederrich

(Investor Relations)

Bergkirchener Straße 228

D-32549 Bad Oeynhausen

Telephone: +49 (0)5734 922-2706


Fax: +49 (0)5734 922-2691

e-mail: chellmich@balda.de


15.05.2006 Dissemination of a Corporate News, transmitted by DGAP –

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Language: English

Company: Balda AG

Bergkirchener Str. 228

32549 Bad Oeynhausen


Phone: +49 (0) 57 34 / 9 22-0

Fax: +49 (0) 57 34 / 9 22-2604

E-mail: info@Balda.de

Internet: www.balda.de

ISIN: DE0005215107

WKN: 521510

Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr

in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of Announcement DGAP News-Service