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Cicor signed a new syndicated loan facility on Friday 30 June 2017 with a financing framework to the amount of 75 million Swiss francs.
The financing will be used to preserve long-term financial flexibility and guarantees the Cicor Group's continuing growth. The credit, arranged by a banking consortium under the guidance of the Commerzbank AG, has a term of four years with two options for extension by an additional year each time, thus making a maximum term of six years.
With the new financing arrangement, the credit agreement of 65 million Swiss francs signed in December 2014 and due to expire at the end of 2017 is replaced early. In addition to the longer term and higher volume of the new syndicated loan, Cicor may also benefit from more advantageous conditions.
Cicor is a global development and manufacturing partner with innovative technology solutions in the electronics industry. With around 1,900 employees at ten production sites, Cicor produces highly-complex printed circuit boards, hybrids and 3D-MID solutions and offers complete plastic injection-molded electronics and plastics services. The Group supplies high-quality customized solutions from the design to the finished product for its international customers. The shares of Cicor Technologies Ltd. are listed on the SIX Swiss Exchange (CICN). For further information, please click here.