Initial syndication phase closed successfully
Pfäffikon SZ, July 6, 2007 - OC Oerlikon Corporation AG, Pfäffikon is announcing the successful closing of the initial syndication phase of the CHF 2.5 billion Syndicated Credit Facility which represents the next milestone in this transaction. On June 26, 2007 a Syndication Agreement was signed with Citigroup - acting as Bookrunner and Mandated Lead Arranger - and the company's core relationship banks, acting as Sub-Underwriters and Mandated Lead Arrangers. The following banks participate in the transaction as Sub-Underwriters:
• ABN AMRO Bank N.V., Niederlassung Deutschland
• Commerzbank AG
• Deutsche Bank AG
• Dresdner Kleinwort
• UBS AG
• WestLB AG
In addition, ING Luxembourg has joined the transaction as a Mandated Lead Arranger. The facility is split into a 3-year CHF 600 million term facility and a 5-year CHF 1,900 million revolving facility and will be used to refinance existing indebtedness (mainly due to the recent acquisition of Saurer AG) and for general corporate purposes. The initial margins of the tranches are 40bps and 45bps respectively, thereafter based on a leverage pricing grid.
The broader general syndication will be launched in early July with a bank meeting held in Zurich, where additional banks are invited to join the Syndicated Credit Facility. The final closing of the transaction is expected for end of August.
