Edition:
India

Scout24 reduces debt, prepayment of EUR 30 mln towards syndicated loan​


Thursday, 17 Aug 2017 

Aug 17 (Reuters) - SCOUT24 AG ::DGAP-NEWS: SCOUT24 AG FURTHER REDUCES DEBT BY MAKING FIRST VOLUNTARY PREPAYMENT TOWARDS NEW BANK LOAN.‍PREPAYMENT OF EUR 30 MILLION TOWARDS SYNDICATED LOAN​.‍VOLUNTARY PREPAYMENT REDUCES OUTSTANDING DEBT FROM EUR 680 MILLION TO EUR 650 MILLION​.INTEREST EXPENSES WILL DECREASE BY EUR 510 THOUSAND PER YEAR AT CURRENT INTEREST RATE.PREPAYMENT COVERS ANNUAL MANDATORY REPAYMENT OF EUR 30 MILLION, WHICH WOULD HAVE BEEN DUE IN DECEMBER 2017.PLANS TO FURTHER DE-LEVER OVER TIME TOWARDS TARGET RANGE OF 1.5X TO 1.0X NET DEBT TO ORDINARY OPERATING EBITDA OVER LAST 12 MONTHS.