JOST successfully places EUR 130 million ESG-linked promissory note loan

• ESG link shows JOST’s commitment to sustainability
• High oversubscription and broad investor base
• Pricing at the lower end of the marketing range
• No financial covenants

Neu-Isenburg, December 5, 2022. JOST Werke AG (“JOST”), a leading global producer and supplier of safety-critical systems for the commercial vehicle industry, has successfully completed the placement of its first ESG-linked promissory note loan.

In a challenging capital market environment, JOST was able to secure advantageous pricing conditions at the lower end of the marketing range. A total of 23 institutional investors participated in the promissory note loan. Given the high oversubscription of the order book, the placement volume was increased from the originally planned EUR 100 million to EUR 130 million.

"The successful placement of the promissory note loan and the high level of interest is proof of the confidence of debt investors in our long-term corporate strategy and business model," said Joachim Dürr, CEO of JOST Werke AG.

As a result of the high demand, JOST had to scale down the allotment of the order book and was able to optimize volumes, maturities and costs, thereby extending its debt maturity profile. The new promissory note loan with maturities of three, five and seven years secures the company an attractive long-term mix of fixed and floating interest rates without financial covenants. The interest rate is additionally linked to the achievement of ESG targets for CO₂ reduction and for increasing the proportion of women in management positions.

Dr. Christian Terlinde, CFO of JOST Werke AG, commented: "The new financing increases our scope of action for further growth. Additionally, linking the promissory note loan to ESG targets highlights JOST's commitment to sustainability also in its group financing."

The proceeds of the issue will be used to refinance existing loans maturing in 2023 and to repay drawn down credit lines.

Joint lead arrangers of the promissory note loan were the Bayerische Landesbank and the Landesbank Hessen-Thüringen (Helaba). The law firm Hengeler Mueller supported and advised JOST in the transaction.

Contact:

JOST Werke AG
Romy Acosta
Head of Investor Relations
T: +49 6102 295-379
romy.acosta@jost-world.com

About JOST:

JOST is a leading global manufacturer and supplier of safety-relevant systems for the commercial vehicle industry with its core brands JOST, ROCKINGER, TRIDEC and Quicke. JOST’s global leadership position is driven by the strength of its brands, its long-standing client relationships serviced through its global distribution network, and its efficient and asset-light business model. With sales and production facilities in 25 countries across five continents, JOST has direct access to all major truck, trailer and agricultural tractor manufacturers as well as relevant end customers in the commercial vehicle industry. JOST currently employs more than 3,600 staff across the world and is listed on the Frankfurt Stock Exchange. For more information about JOST, please visit http://www.jost-world.com