New energy for VARTA AG

VARTA secures future investments with ESG promissory note loans of EUR 250 million.

VARTA AG is starting into the future with new energy. The company placed promissory note loans totaling
EUR 250 million on the capital market via a consortium of BayernLB, HSBC and UniCredit. The four tranches have a term of five or seven years (3/4 of the credit volume) and mainly have a fixed interest coupon. The funds are available to the company for general financing projects. The initial average interest rate is 1.44% The transaction was linked to VARTA AG's ESG rating by Morningstar Sustainalytics, the leading independent company in the field of research, rating and analysis of ESG and corporate governance. Depending on the change in Varta's rating, the spread of the promissory note may change.

Armin Hessenberger, CFO of VARTA AG: “Right from the start, the order book developed extremely dynamically and showed a very high level of stability. Demand exceeded supply by more than four times. We have thus completed a major step towards financing our growth initiative.”

Herbert Schein, CEO of VARTA AG: "The special thing about this loan is that it is linked to the very good performance of VARTA AG in the area of ​​sustainability. We have been making great efforts here for many years, which have already made us the Green Partner of leading international companies. We will take further steps here in the future.”

Rainer Hald, CTO of VARTA AG: "The plan is to use the money to expand our lithium-ion business. One focus will be on building up production capacity for the large format round cell. In addition, the capacities of the small-format cells will be further expanded.”

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VARTA AG produces and markets a comprehensive battery portfolio ranging from micro batteries, household batteries, energy storage systems to customised battery solutions for a variety of applications and sets the industry standards as a technology leader in key areas. As the parent company of the Group, it is divided into the segments "Micro Batteries", "Lithium-Ion CoinPower", "Consumer Batteries", "Energy Storage Systems" and "Other".
The "Micro Batteries" segment includes micro and hearing aid batteries, "Lithium-Ion CoinPower" small-format lithium-ion round cells for OEM applications. "Consumer Batteries" represents the business with household batteries, rechargeable batteries, chargers, portable power (power banks) and lights. “Energy Storage Systems" includes energy storage solutions for primarily private, but also for commercial applications. The "Other" segment includes the "Lithium-Ion Battery Packs" and "Lithium-Ion Large Cells" business units (high-performance lithium-ion round cells for industrial applications in the automotive and non-automotive sectors).
Through intensive research and development, VARTA sets global standards in many areas of lithium-ion technology and in micro batteries, making it a recognised innovation leader in the important growth markets of lithium-ion technology and in primary hearing aid batteries. The VARTA AG Group currently employs around 4,200 people. With five production and manufacturing facilities in Europe and Asia as well as distribution centres in Asia, Europe and the USA, VARTA AG's operating subsidiaries are currently active in over 100 countries worldwide.