Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
Neways Reaches Refinancing Agreement
November 10, 2016 | Neways Electronics International N.V.Estimated reading time: Less than a minute
EMS firm Neways Electronics International N.V. has reached an agreement with ING and ABN AMRO concerning the refinancing of the company. The new credit facility of €57.5 million in total replaces the three-year facility with ING and ABN AMRO set to expire mid-2017.
The new group facility expires 31 October 2018, with a one-year extension option. The facility consists of a long-term loan of €5.0 million and a current account facility that has been expanded with €17.5 million to €52.5 million. The facility provides for a €5.0 million repayment of the long-term loan before 1 October 2017.
With the new agreement, equity is to reach at least €50.0 million in 2016 and €55.0 million in 2017 and 2018. Additionally, EBITDA over the last twelve months (LTM) should be at least €10.0 million. The old agreement included conditions for a minimum solvability of 35% and a maximum net debt/EBITDA of 3.0. Pledging requirements practically remain unchanged.
"This new and broader group facility with more favourable conditions provides sufficient strength and flexibility in the covenants to pursue our growth strategy and operational improvement programme going forward. Additionally, this new agreement assures Neways a financing structure that fits the characteristics of our Company and on balance results in lower interest expenses," said Paul de Koning, CFO.
Share on:
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Neways Achieves SBTi Validation for Near-term Emissions Reduction Targets
09/01/2025 | Neways Electronics International N.V.Neways Electronics International N.V. commits to reduce absolute Scope 1 and 2 GHG emissions 54.6% by 2033 from a 2023 base year.
Neways, Teledyne FLIR Sign Frame Agreement for Ramp-up of Defense Business
06/21/2025 | NewaysNeways, the global innovator in mission-critical technology for leading semicon, defense & mobility, and connectivity companies, has signed a frame agreement with Teledyne FLIR. Teledyne FLIR is a global leader in thermal imaging infrared cameras that are applied in government & defense, industrial, and commercial markets.
Neways, BAE Systems Hägglunds Sign Long-term Supplier Agreement
06/12/2025 | NewaysBy signing the LTSA, Neways and BAE Systems Hägglunds further cement the long-time collaboration that started more than 15 years ago when Neways first supported BAE Systems in delivering an early fleet of CV90 armored vehicles: a platform that has been ordered in over 1,900 vehicles globally.
Neways Electronics Celebrates Grand Opening of New Manufacturing Facility in Malaysia
05/22/2025 | Neways Electronics International N.V.Neways, the global innovator in mission-critical technology for semicon, defense & mobility, and connectivity sectors, is proud to announce the grand-opening of a new state-of-the-art manufacturing facility in Selangor, Malaysia.
Neways Firmly Expands Defense Business
04/21/2025 | NewaysNeways Electronics, the global innovator in mission-critical electronics, foresees very strong growth in its defense-related activities in the near term.