RENK Group AG completes successful refinancing and benefits from rating upgrade

After its IPO on February 7, 2024, RENK Group AG successfully refinanced its debt. The company repaid a €520 million corporate bond maturing in 2025 and replaced it with a €525 million term loan from a banking consortium. This loan, with a maturity of 5 years, is supplemented by a multi-currency guarantee facility of 450 million euros and a revolving credit facility of 75 million euros, which will remain unused until further notice.

On February 23, rating agency Moody's upgraded RENK GmbH's corporate credit rating to Ba3, an improvement from B1, and changed its outlook to "positive". This decision reflects RENK's "relatively conservative and balanced" financial policy, as well as its "strong credit metrics."

Christian Schulz, Chief Financial Officer of RENK Group AG, welcomes this development, believing that the group now benefits from a solid medium-term financing base, while consolidating its position in the equity and debt markets.