Statement from Heckler & Koch on € 60 million cash injection
Following this cash payment by Mr. Heeschen, outstanding drawings of € 15 Million under the HK secured credit facility which was partially drawn a few days ago to cover for the coupon payment of the outstanding 9.5% Senior Secured Notes due 2018 will be repaid.
In addition to H&K AG's recent listing on the Euronext stock exchange in Paris, this increasein liquidity and financial resources represents a further step in providing the H&K Group and its management with greater flexibility in planning and managing the group's balance sheet and financial resources.
"Heckler & Koch is an important element of the supply chain and the security infrastructure of Germany and its NATO partners," explains Andreas Heeschen, majority shareholder of H&K AG and managing director of Heckler & Koch. "We expect Europe to become more exposed to conflicts on the international stage in future. It is important for our company to be able to respond with even greater flexibility to our customers’ demands. With the reduction of our net debt, we want to send a strong signal to our clients that Heckler & Koch continues to be a reliable and growth-oriented partner. Heckler & Koch is a global leader in the manufacturing and
development of innovative technologies for the armies and police forces of Western NATO states. Our aspiration as a technology leader is to not only maintain our position, but to expand it."
About Heckler & Koch.
Heckler & Koch is a leading defence contractor in the small arms sector of the European NATO defence industry. We supply the armed forces of NATO and its allies, law enforcement agencies worldwide, and we are the sole supplier of the standard assault rifle to the German, British, Spanish and Norwegian armed forces. We design, produce and distribute small arms, including rifles, side arms, fully automatic weapons and grenade launchers, and a variety of other related products. We have been in operation for more than 65 years and have a strong history of design innovation. We have a strong management team and a highly skilled work force. Our brand name, Heckler & Koch, is well respected and our products are widely considered to be of the highest quality.