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© Leoni Electronics Production | June 12, 2018

Cable manufacturer strengthens funding with syndicated loan

Leoni says that the company has has realigned its corporate funding. The company consequently agreed a credit line amounting to EUR 750 million and a duration of at least 5 years with 8 banks.
“Leoni has, as part of its funding strategy, signed a syndicated loan for the first time. It replaces bilateral credit agreements and gives us flexible scope for the impending growth phase of our Company,” said Karl Gadesmann, CFO of Leoni AG, in a press release.

The new credit facility has a duration of initially 5 years and comprises two options to extend by one year, respectively. Leoni has thereby placed the maturity profile of its financial liabilities on a more long-term footing and further improved it. This new syndicated loan serves to provide general corporate purposes. In particular, it broadens the company’s financial basis for further organic growth and provides additional scope for M&A transactions.

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October 15 2018 11:56 pm V11.6.0-1