Ascom gets Sfr120m loan for TEMS buy

Ascom, the Swiss electronic systems company, has secured a long-term loan of Sfr120m (Eu78.6m) to back its takeover of TEMS, a mobile network testing business, from Sweden’s Ericsson.

  • 24 Mar 2009

The facility, which matures at the end of December 2012, was provided by eight banks. Credit Suisse and UBS were the bookrunners.

Ascom is buying TEMS for Sfr190m. The rest of the acquisition will be funded using its cash reserves.

The facility leaves Ascom, which previously had no debt, leveraged ...

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5 Credit Suisse 9,276.87 26 5.84%