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Bankleitzahlen - online.de


Wienerberger AG increases liquidity reserves

Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------




- Extension of loans and improved maturity profile
- Primary goal remains reduction of net debt by at least ¤ 100
million per year

Vienna, 17 April 2009 - A secure financial base and sufficient liquid
funds represent the top priority for Wienerberger against the
backdrop of the unparalleled change in the financial and economic
environment over the past 18 months. At year-end 2008 Wienerberger AG
had refinancing needs that totaled ¤ 429 million up to 2011. The
company has been able to extend the terms of part of these loans -
namely ¤ 223 million - that would have been due in 2009 or 2010 with
the support of its banks and based on a refinancing commitment by
Oesterreichische Kontrollbank. As a result of these negotiations, ¤
18 million will now be due in 2011 and ¤ 205 million in 2013.

Reduction of net debt remains top priority
"Wienerberger has a healthy financial base and a strong balance sheet
structure. I am pleased that we have been able to further strengthen
our position. However, one of our most important goals remains the
reduction of net debt. I am confident that we will be able to
decrease these by at least ¤ 100 million annually over the coming
years", indicated Wolfgang Reithofer, Chief Executive Officer of
Wienerberger AG.

Reduction of refinancing requirements for next 3 years
Willy Van Riet, Chief Financial Officer of Wienerberger AG, added:
"We have been able to reduce our refinancing requirements for the
next three years to ¤ 224 million. This amount is secured by liquid
funds and undrawn, committed lines of credit. By extending our
liabilities, we have also increased our liquidity reserves. We have
had excellent relationships with our banks for many years, and that
has made it possible to also gain their support at normal market
conditions in these difficult times. This climate of mutual trust
underscores the importance of open communications and proves that
this approach has a positive effect over the long-term."

Key issues for banks: good relationship and
fair conditions
Helene Pehr of UniCredit Bank Austria AG, which served as the bank
coordinator, also explained: "Wienerberger contacted us at the
beginning of the year to extend the terms of several loans and
thereby improve the existing maturity structure. Together we
developed the most appropriate process: by sounding existing lenders
we determined which return lenders would expect and then announced
the pricing at a joint bank meeting. The banks were impressed by the
quick reaction of Wienerberger's management to the market crisis and
the still extremely sound credit metrics of the company. Ultimately,
the borrower's excellent relationship with its lenders together with
the fair pricing really did it's job: not only did we received a
commitment from a bank, which was not yet lending to Wienerberger, we
also received a substantial oversubscription by the existing
lenders."

The following banks are members of the consortium:
Mandated lead arrangers: UniCredit Bank Austria AG (coordinator,
agent); Bayern LB; Deutsche Bank AG; Erste Group Bank AG; Fortis Bank
S.A./N.V.; Raiffeisen Zentralbank Österreich AG; The Royal Bank of
Scotland plc, Frankfurt Branch.

Lead managers: Banque de l'Economie, du Commerce et de la Monetique -
BECM ; Svenska Handelsbanken AB (Publ);

Managers: Dresdner Bank AG, Luxembourg Branch; Raiffeisen-Landesbank
Steiermark AG

For additional information contact:
Karin Hofmann, Public Relations Wienerberger AG
T +43(1)60192-463 | communication@wienerberger.com

If you do not wish to receive the Wienerberger newsletter any longer,
send an e-mail with subject: "unsubscribe newsletter" to
communication@wienerberger.com



--- End of Message ---

Wienerberger AG
Wienerbergstraße 11 Vienna Austria

WKN: 83170;
ISIN: AT0000831706; Index: WBI, ATX , ATX Prime;
Listed: Prime Market in Wiener Boerse AG;
Copyright © Hugin AS 2009. All rights reserved.



 
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