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.
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