Bronschhofen, October 31, 2023 – Benefitting from the current market environment and to provide greater flexibility for day-to-day operations and further growth, Cicor Group (SIX Swiss Exchange: CICN) has signed a credit agreement on October 30, 2023 to refinance the existing portfolio and increase it to CHF 245 million.
Cicor's existing syndicated loan of CHF 155 million has been renewed at attractive conditions ahead of its maturity date of June 18, 2025 and increased to CHF 245 million. It consists of a new revolving credit facility of CHF 120 million and two acquisition facilities of CHF 75 million (already partially amortized) and CHF 50 million, as well as an additional optional acquisition credit line of CHF 75 million. The new credit agreement has a term of four years with two one-year extension options. The renewal of the revolving credit facility provides financial and liquidity security and increases Cicor's overall strategic flexibility.
The loan agreement was structured as a syndicated loan. The syndicate consists of a group of banks including Commerzbank AG as mandated arranger, agent, bookrunner and security agent, Landesbank Baden-Württemberg as arranger, HSBC Continental Europe S.A., Germany, Migros Bank AG, IKB Deutsche Industriebank AG and Raiffeisenlandesbank Oberösterreich AG.
In addition to an acquisition credit line of CHF 50 million, the new credit agreement contains an optional acquisition credit line in the amount of CHF 75 million, which, in the event of a future acquisition, is to be used to finance the purchase price as well as the working capital of the company to be acquired.
Contact
Cicor Management AG
Gebenloostrasse 15
CH-9552 Bronschhofen
Media & Investor Relations
Phone +41 71 913 73 00
Email: media@cicor.com