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Munich, October 31, 2013 – MTU Aero Engines AG signed a new syndicated credit facility for 400 million euros, thus securing the group’s funding in the long term. The loan agreement with a syndicate consisting of five banks runs for five years and includes an option to extend the agreement for two years. This funding, which is used for general corporate purposes, is prematurely replacing the previous credit line of 100 million euros falling due in December 2015. 

“The currently favorable financing conditions for companies with an investment grade rating were the main reason for the premature refinancing,” says CFO Reiner Winkler. “We have secured a solid liquidity reserve for the coming years by obtaining a new syndicated loan and have optimized our financing structure to meet future contingencies.”

Commerzbank Aktiengesellschaft and UniCredit Bank AG were lead arrangers in the transaction, which also saw the participation of Deutsche Bank, HSBC Trinkaus & Burkhardt AG and Bayerische Landesbank. Winkler: “This syndicate of banks gives us a good mix of national and international banks as partners to support our future growth.”

About MTU Aero Engines
MTU Aero Engines is Germany’s leading and only independent engine manufacturer, and an established global player in the industry. Its activities encompass the development, manufacture, marketing and support of commercial and military aircraft engines and industrial gas turbines. The company is a technological leader in low-pressure turbines, high-pressure compressors, manufacturing processes and repair techniques. MTU Maintenance is the world’s largest independent provider of maintenance services for commercial aircraft engines. In the military sector, MTU is the lead industrial partner for almost every type of engine flown by the German armed forces. MTU operates a worldwide network of manufacturing plants and maintenance shops, coordinated by its corporate headquarters in Munich. In the financial year 2012, with a workforce of around 8,500 employees, the group generated revenues of approximately € 3.4 billion. In early March this year, the company won the German Industry’s 32nd Innovation Award, and in April, it was honored with the German Innovation Award. In both instances, MTU received the recognition for the geared turbofan™ engine’s high-speed low-pressure turbine.