Adval Tech Group: new basis for bank loans

(PresseBox) ( Niederwangen, )
The Adval Tech Group has renegotiated existing bank loans prior to their maturity date in January 2013 and placed them on a new basis with a view to reducing annual interest costs significantly. The existing consortium consisting of eight banks will be replaced by two major Swiss banks end of January 2012. At the same time the existing revolving credit facility of CHF 135 million will be reduced to CHF 120 million. The difference of CHF 15 million has been offset by the inflow of funds from sales of real estate. The term of the new credit facility is 18 months. A major shareholder has signed a guarantee covering 50 percent of the credit line.
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