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Global Citizenship: Our Strength Comes From Working TogetherCicor Obtains New Revolving Loan Facility
June 21, 2021 | CicorEstimated reading time: 1 minute
Cicor, a leading international technology company in the fields of printed circuit boards and hybrid circuits, printed electronics, microelectronics as well as EMS (electronic manufacturing services) based in Boudry (Switzerland), signed a credit agreement on 18 June 2021 for a new revolving credit facility of CHF 80 million and for an additional optional acquisition credit facility of CHF 75 million.
Successful Renegotiation of Syndicated Loan
Cicor is replacing the existing syndicated loan of CHF 75 million due on 30 June 2022, early and at attractive conditions and is increasing it to CHF 80 million.
The new syndicated loan has a term of four years with two one-year extension options. The renewal of the revolving credit facility provides financing and liquidity security and increases Cicor's overall strategic flexibility.
The syndicated loan was structured as a club deal. The banking syndicate comprises a core banking group consisting of Commerzbank AG as mandated arranger and agent, HSBC Trinkaus & Burkhardt AG, Landesbank Baden-Württemberg, Migros Bank AG and Zürcher Kantonalbank.
Additional Optional Acquisition Credit Facility
The new credit agreement also 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 and the working capital of the company to be acquired.
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