Brief: hGears Announces Successful Signing Of Debt Refinancing

hGears AG

22/12/2021 07:03

Dec 22 (Reuters) - hGears AG  HGEA.DE :
    * ANNOUNCES SUCCESSFUL SIGNING OF DEBT REFINANCING ON
IMPROVED
TERMS AND CONDITIONS
    * HAS ENTERED INTO A NEW CREDIT FACILITIES AGREEMENT WITH A
CONSORTIUM OF BANKS FOR AN AMOUNT OF EUR 60 MILLION IN TOTAL
    * NEW FACILITIES AGREEMENT COMPRISES A TERM LOAN OF EUR 15
MILLION
AND A REVOLVING CREDIT FACILITY OF EUR 45 MILLION
    * AGREEMENT IS FOR A TERM OF 5 YEARS, PROVIDING MORE THAN A
3-YEAR
EXTENSION TO CURRENT EUR 32 MILLION FACILITIES AGREEMENT
    * NEW AGREEMENT WILL BE USED TO REFINANCE GROUP'S EXISTING
DEBT OF
EUR 20 MILLION, MATURING IN SEPTEMBER 2023
    * REFINANCING IS EXPECTED TO COMPLETE IN JANUARY 2022

Source text for Eikon:  ID:nEQ41kQ5Ga 
Further company coverage:  HGEA.DE 

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