Syndicated loan of CHF 500 million successfully renewed
Long-term financing of Group secured with attractive conditions | New loan term of five years | Sign of confidence in strong balance sheet, good market position and positive outlook for Implenia
Dietlikon, 22 August 2012 – With the signing of a contract today Implenia successfully renewed – with effect from 31 August 2012 – the syndicated loan due to expire at the end of September 2012. It was possible to extend the term of the loan, which totals CHF 500 million, to five years. The final maturity (end of August 2017) is now after the date of maturity of the existing Implenia bond (May 2016). The loan is guaranteed by a broadly based consortium of banks, led by UBS, together with Credit Suisse and the Zurich Cantonal Bank as arrangers. It comprises a cash facility of CHF 150 million and a guarantee facility of CHF 350 million. In order to secure refinancing of the bond, there is also the option to increase the syndicated loan’s cash facility by a further CHF 100 million to CHF 250 million, without changing the overall volume. In addition to financing the normal seasonal resource requirements, a particular function of the loan is to provide guarantees for construction projects. The renewal of the credit is a sign of confidence on the part of the banks in the strong balance sheet, good market position and promising outlook for the leading Swiss construction and construction services company.
Implenia is Switzerland's leading construction and construction services company. Formed in 2006 from the merger between Zschokke and Batigroup, Implenia can look back on more than 140 years of history in the construction industry. The company brings the expertise of its highly skilled Real Estate, Infrastructure Construction and Industrial Construction divisions under the single roof of a nationally and internationally active business. With its integrated business model and specialists operating in all its divisions, Implenia can manage a building project through its entire lifecycle and deliver work that is economical, integrated and customer-centric. The focus is on striking a sustainable balance between financial success and social and environmental responsibility.
Implenia, with its headquarters in Dietlikon near Zurich, employs around 6,400 people and posted turnover of more than CHF 2.5 billion in 2011. The company is listed on the SIX Swiss Exchange (IMPN, CH0023868554). More information can be found at www.implenia.com.