The financing will be used to preserve long-term financial flexibility and guarantees the Cicor Group's continuing growth. The credit, arranged by a banking consortium under the guidance of the Commerzbank AG, has a term of four years with two options for extension by an additional year each time, thus making a maximum term of six years.
With the new financing arrangement, the credit agreement of 65 million Swiss francs signed in December 2014 and due to expire at the end of 2017 is replaced early. In addition to the longer term and higher volume of the new syndicated loan, Cicor may also benefit from more advantageous conditions.
Contact:
Heinrich J. Essing
Chairman of the Board of Directors
Tel. +41 71 913 73 00
Email: media@cicor.com
Alexander Hagemann
CEO
Tel. +41 71 913 73 00
Email: media@cicor.com