Media Release
Landis+Gyr Group AG
Theilerstrasse 1
Postfach 260
6301 Zug
Switzerland
Landis+Gyr Concludes Debt Refinancing
Zug, 9 March 2018 - Landis+Gyr (LAND.SW), a global leader in transforming the way energy is delivered and managed, today announced it had closed on a five year, USD 240 million revolving credit facility that replaced the company's USD 215 million bridge loan.
"We are pleased to have successfully refinanced our bridge loan, that was originally established in preparation for the IPO, with a flexible multi-currency revolving credit facility," commented Jonathan Elmer, Landis+Gyr's Chief Financial Officer. "This refinancing increases our liquidity, keeps the cost of capital low and provides currency flexibility."
The revolving credit facility was provided by a syndicate of banks led by UBS Switzerland AG.
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