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Pipelife mandates Banks for m€190 debt restructuring
Pipelife International GmbH has mandated Bank Austria Creditanstalt AG (Member of HVB Group) and Fortis Bank to arrange EUR 190 million Syndicated Term and Revolving Loan Facilities. The transaction is structured in three Facilities with a Term Loan Facility A amounting to EUR 50 million, a Revolving Loan Facility B amounting to EUR 90 million and a EUR 50 million Subordinated Facility C amounting to EUR 50 million. Facility C will be fully guaranteed by Pipelife´s shareholders Wienerberger AG (S&P's: BBB-) and Solvay S.A. (S&P's: A) through its subsidiary CICC. Facility A and B carry a tenor of 5 years. Facility C carries a tenor of 5 and half years.

Pipelife's debut transaction will be launched in 1st Quarter 2004.

For any questions please contact:
Mr. Andreas Strobl
Pipelife International Corporate Finance
Tel: +43.2236.43939-19
andreas.strobl@pipelife.com

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Pipelife International GmbH
Triester Strasse 14
2351 Wr. Neudorf / Austria

tel: +43.2236.43939-0
fax: +43.2236.43939-6

» info@pipelife.com