New financing of CHF 65 million improves financial flexibility of the Group - agreed conditions as an expression of a positive response to the development of the Cicor Group since 2012

Tue, 23 Dec 2014

Zurich, December 23, 2014 - Cicor (SIX Swiss Exchange: CICN), an international high-tech industrial group and leader in the fields of printed circuit boards, microelectronics and electronic solutions, headquartered in Boudry (Switzerland), signed for the long-term financial flexibility as well as for safeguarding the continuing growth of the Group a new credit agreement in the amount of CHF 65 million.

The arranged credit facility with a consortium of banks – led by Commerzbank Aktiengesellschaft – has a duration of three years, with two extension options of one additional year each, therefore running for a maximum term of five years.

The new financing agreement supersedes the existing credit facility of CHF 45 million which was signed in February 2012 and which will expire in the beginning of 2015. In addition to the longer term as well as the higher volume, the company was also able to arrange structurally better terms for the new credit facility. Acting CEO and CFO Patric Schoch is very satisfied with this new arrangement, "we see the higher financing volume and the conditions achieved as a recognition and as a confirmation that the market perception of the Cicor group has improved significantly thanks to the company's good performance since 2012".

Contact:


Antoine Kohler
Chairman of the Board of Directors
Tel. +41 43 811 44 05
E-mail: media@remove-this-text.cicor.com

Patric Schoch
Acting CEO
Tel. 41 43 811 44 05
E-Mail: media@remove-this-text.cicor.com

Cicor Management AG
Leutschenbachstrasse 95
8050 Zurich
Switzerland