Ascom Holding AG

11/20/2020 | Press release | Distributed by Public on 11/20/2020 00:02

Ascom enters into a syndicated loan agreement with Swiss banks

Ascom enters into a syndicated loan agreement of CHF 60 million over four years with a Swiss bank consortium.

Ascom and a bank consortium consisting of UBS Switzerland AG (lead), Credit Suisse (Switzerland) Ltd., Zuger Kantonalbank, and Zürcher Kantonalbank signed a syndicated loan agreement for a period of four years. The syndicate banks are committed to make available to Ascom a senior revolving loan facility in an aggregate amount equal to CHF 60 million, which serves general corporate purposes of the Group. The credit facility includes customary financial covenants.

Moreover, the syndicate banks may make available to Ascom, on an uncommitted basis, additional loan facilities in an aggregate amount equal to CHF 20 million for financing specific commercial projects.

With this syndicated loan facility, Ascom will replace the existing bilateral credit facilities with two banks entered on 31 March 2020.

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