- Mobility service provider strengthens its financial flexibility to expand its vehicle fleet at attractive conditions once the corona crisis has ended.
- Previously undrawn syndicated loan with the participation of KfW to now be replaced by the new credit line that will serve as an additional financing instrument.
- Alexander Sixt, Chief Strategy Officer of Sixt SE: “Thanks to its strong management of the crisis and the rapid adjustment of its cost base, SIXT has weathered the corona crisis in an extraordinarily stable manner so far and is in excellent health. By taking out the new syndicated loan without KfW’s participation, we are financially equipping ourselves for an increase in demand for mobility services after corona.
Pullach, 01 March 2021 – Sixt SE has signed a long-term syndicated loan agreement in the amount of EUR 750 million with a renowned bank consortium. The new revolving credit line completely replaces the previously unused syndicated loan concluded at the beginning of May 2020 with the participation of Kreditanstalt für Wiederaufbau (KfW). This credit facility had already been significantly reduced in advance following the successful bond issue in December 2020 and through other reductions.
With the new credit line, the international mobility service provider is the necessary financial scope to flexibly finance the expansion of its operating business and rental fleet. SIXT expects to see a gradual pick-up in international travel following an easing of the current travel restrictions and contact bans due to the COVID-19 pandemic.
The term of the new revolving credit facility is three years and can be extended twice by one year each, so that the maximum term comprises five years. The credit facility can be drawn in various currencies. Commerzbank Aktiengesellschaft, DZ BANK AG, Deutsche Zentral-Genossenschaftsbank and UniCredit Bank AG are the lead arrangers and bookrunners of the credit line. Other lead arrangers and lenders are Crédit Agricole Corporate and Investment Bank, Deutsche Bank and SEB Deutschland. UniCredit Bank AG is the agent.
Sixt SE with its registered office in Pullach near Munich, is a leading international provider of high-quality mobility services. With its products SIXT rent, SIXT share, SIXT ride and SIXT+ on the mobility platform ONE the company offers a uniquely integrated premium mobility service across the fields of vehicle and commercial vehicle rental, car sharing, ride hailing and car subscriptions. The products can be booked through the SIXT app, which also integrates the services of its renowned mobility partners. SIXT has a presence in more than 100 countries around the globe. The company stands for consistent customer orientation, a lived culture of innovation with strong technological competence, a high proportion of premium vehicles in the fleet and an attractive price-performance ratio. In 2022, the Sixt Group achieved a record consolidated pre-tax earnings of EUR 550 million and a significant increase in consolidated revenues to EUR 3.07 billion. Sixt SE has been listed on the Frankfurt stock exchange since 1986 (ISIN ordinary share: DE0007231326, ISIN preference share: DE0007231334).