PTA-News: Zumtobel Group AG: Zumtobel Group secures further long-term financing until 2026

12/16/2021, 9:00 AM (Source: pressetext)

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Dornbirn (pta012/16.12.2021/09:00) - On 15 December 2021 the Zumtobel Group concluded a new consortium credit agreement and in doing so, refinanced the agreement that expires in November 2022 ahead of schedule. This step secures long-term liquidity for the Austrian lighting group. The new consortium credit agreement has a term of five years, including two one-year extension options (5+1+1 arrangement) and a maximum facility amount of EUR 125 million. The agreement also contains an increase clause that allows the credit line to be increased to up to EUR 350 million if required. The agreement was concluded with a consortium of the same six banks under the leadership of Raiffeisen Bank International AG and participation of UniCredit Bank Austria AG, Commerzbank AG and SEB AB as mandated lead arrangers and bookrunners, as well as BTV and Hypo Vorarlberg as lead arrangers.

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Dornbirn (pta012/16.12.2021/09:00) - On 15 December 2021 the Zumtobel Group concluded a new consortium credit agreement and in doing so, refinanced the agreement that expires in November 2022 ahead of schedule. This step secures long-term liquidity for the Austrian lighting group. The new consortium credit agreement has a term of five years, including two one-year extension options (5+1+1 arrangement) and a maximum facility amount of EUR 125 million. The agreement also contains an increase clause that allows the credit line to be increased to up to EUR 350 million if required. The agreement was concluded with a consortium of the same six banks under the leadership of Raiffeisen Bank International AG and participation of UniCredit Bank Austria AG, Commerzbank AG and SEB AB as mandated lead arrangers and bookrunners, as well as BTV and Hypo Vorarlberg as lead arrangers.

"The early extension of the existing credit agreement secures our long-term financing and thus our flexibility. The Zumtobel Group is very solidly financed and has all the necessary funds to successfully implement its plans for sustainable growth," said Thomas Erath, CFO of the Zumtobel Group.

Members of the banking syndicate:
-Raiffeisen Bank International AG
-UniCredit Bank Austria AG
-Commerzbank AG
-SEB AB
-Bank für Tirol und Vorarlberg Aktiengesellschaft
-Hypo Vorarlberg Bank AG

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emitter: Zumtobel Group AG
address: Höchster Straße 8, 6850 Dornbirn
country: Austria
contact person: Eric Schmiedchen
phone: +43 5572 509 1125
e-mail: eric.schmiedchen@zumtobelgroup.com
website: z.lighting

ISIN(s): AT0000837307 (share)
stock exchanges: official trade in Vienna

[ source: http://www.pressetext.com/news/20211216012 ]