Oerlikon amends Sfr2.5bn loan and looks to equity

Oerlikon, the Swiss industrial machinery firm, has amended its Sfr2.5bn (Eu1.65bn) syndicated loan, resetting its covenants and increasing its margins ahead of a planned equity capital raising exercise. The moves come in response to falling sales, which has forced the loss-making borrower to restructure its business and strengthen its balance sheet.

  • 04 Jun 2009
“This amendment is a prerequisite to give us the flexibility to execute other measures, which might include equity capital market transactions. And that’s what we’re looking at now,” Frank Heffter, Oerlikon’s head of investor relations, told EuroWeek. “It would help us to strengthen our balance sheet and could ...

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