Events after the reporting date

On 2 July 2013, the KION Group received the outstanding proceeds from the IPO and the capital increase from Weichai Power. They totalled € 701.6 million after deduction of bank fees. Once all the proceeds from the IPO had been received, the KION Group used this cash, along with part of the new loan facility and existing cash reserves, to pay back the long-term bank liabilities resulting from the acquisition finance arrangements (Senior Facilities Agreement or SFA). In addition, the floating rate note, which was due to mature in 2018 and amounted to € 175.0 million, was paid back in full on 19 July 2013.

In connection with the IPO, the KION Group agreed a new revolving loan facility with a group of banks for € 995.0 million with a term to maturity of five years after the IPO. Combined with the current low level of interest rates, this loan facility offers more favourable credit terms in line with those typically available to comparable listed companies.

During the stabilisation period (30 days after the IPO), 2.3 million of the 2.6 million shares in the original over-allotment option were repurchased and transferred back to Superlift Holding S.à r.l., Luxembourg. At the end of the stabilisation phase, the over-allotment option was exercised for 0.3 million shares, which therefore remained in the free float.

As a result of the IPO, there was a significant improvement in the KION Group’s credit profile and consequently in its credit rating. In July 2013 Moody’s upgraded its corporate family rating by three notches, from B3 / positive to Ba3 / stable, while Standard & Poor’s improved its rating for the KION Group from B / stable to BB- / positive.

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