Landis+Gyr Concludes Debt Refinancing
Zug, 9 March 2018 – Landis+Gyr (LAND.SW), a global leader in transforming the way energy is delivered and managed, today announced it had closed on a five year, USD 240 million revolving credit facility that replaced the company’s USD 215 million bridge loan.
“We are pleased to have successfully refinanced our bridge loan, that was originally established in preparation for the IPO, with a flexible multi-currency revolving credit facility," commented Jonathan Elmer, Landis+Gyr’s Chief Financial Officer. "This refinancing increases our liquidity, keeps the cost of capital low and provides currency flexibility.”
The revolving credit facility was provided by a syndicate of banks led by UBS Switzerland AG.
Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios of products and services to address complex industry challenges, the company delivers comprehensive solutions for the foundation of a smarter grid, including smart metering, distribution network sensing and automation tools, load control, analytics and energy storage. Landis+Gyr operates in over 30 countries across five continents. With sales of approximately USD 1.7 billion, the company employs c. 6,000 people with the sole mission of helping the world manage energy better. More information is available at www.landisgyr.com.
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