Cognis GmbH
Cognis GmbH: Cognis announces PIK financing
Cognis GmbH / Statement/Statement Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- INVESTOR RELATIONS RELEASE Monheim, June 05, 2007 Cognis announces PIK financing Cognis Holding GmbH has decided to refinance the remaining part of its PIK Notes due 2015 in the amount of approximately €348 million (including accrued interest). The current PIK Notes will be fully replaced by a new €362 million PIK loan instrument due 2015. Goldman Sachs and Deutsche Bank are the arrangers and underwriters of the new PIK facility. The transaction follows the successful refinancing of Cognis' senior bank financing and second lien debt and partial repayment of the existing PIK Notes through the issuance of approximately €1.65 billion of senior secured notes and loans by Cognis GmbH on May 16, 2007. That refinancing allowed the Cognis Group to substantially reduce its overall cost of debt. The remainder of the PIK Notes will be refinanced by the new PIK facility and will further reduce the overall cost of debt. The 9.5% Senior Notes due 2014 will be unaffected by the refinancing. This announcement is for general information only and does not form part of any offer to sell, or the solicitation of any offer to buy, securities. The distribution of this announcement and the offer and sale of the securities described in this announcement (the 'Securities') in certain jurisdictions may be restricted by law. Any persons reading this announcement should inform themselves of and observe any such restrictions. This announcement is directed only at the following persons in the United Kingdom: persons having professional experience in matters relating to investments; and persons falling within Articles 49 (2) (a) to (d) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (high net worth corporations, unincorporated associations etc.). If you are in the United Kingdom and do not fall into one of the above categories, any investment or investment activity to which this announcement relates is not available to you, and will not be engaged in with you, and you should not act upon, or rely on, this announcement. About Cognis Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients, with a particular focus on the areas of wellness and sustainability. The company employs about 8,000 people, and it operates production sites and service centers in 35 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, textiles, as well as agriculture and mining. The company holds a 50-percent stake in the joint venture Cognis Oleochemicals, one of the world’s leading manufacturers of oleochemicals. Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2006, Cognis recorded sales of €3.37 billion euros and an Adjusted EBITDA (operating result) of €394 million. Contact Monica Stephensons, Senior Manager Investor Relations Cognis GmbH Phone: +49-2173-4995-279 E-mail: investor-relations@cognis.com Internet: www.cognis.com Susanne Sengel, Senior Manager Corporate Communications Cognis GmbH Phone: +49-2173-4995-220 E-Mail: susanne.sengel@cognis.com Internet: www.cognis.com DGAP 05.06.2007 ---------------------------------------------------------------------- Language: English Issuer: Cognis GmbH Rheinpromenade 1 40789 Monheim Deutschland Phone: 02173-4995-279 Fax: 0211-2006-10279 E-mail: investor-relations@cognis.com www: www.cognis.com ISIN: XS0191508281 WKN: A0BM7Q Indices: Listed: Freiverkehr in Stuttgart; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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