Electronics Production |
Elcoteq signs new syndicated loan agreement
Elcoteq has signed a new agreement to replace the revolving credit facility of €230 million signed five years ago.
At the balance sheet date of 30 September 2009, €200 million was in use from the facility. At the same time the company had €201 million cash. The new credit facility is agreed with the same bank syndicate and it is for €100 million. The loan will mature at the end of April, 2010 and it is designed to cover the period during which the company is expected to finalize the project to strengthen its balance sheet. Negotiations for new long-term financing will be commenced in the near future and are an integral part of the equity project.
