Pfäffikon SZ, June 8, 2007 - OC Oerlikon Corporation AG, Pfäffikon has secured a CHF 2.5 billion Syndicated Credit Facility via Citigroup Global Markets Limited. The facility is split into term and revolving facilities and will be used to refinance existing indebtedness (mainly due to the recent acquisition of Saurer AG) and for general corporate purposes. A bank meeting was held in Zurich last Friday, June 1, for potential sub-underwriters.
The facility represents Oerlikon's debut facility in the European syndicated loan market. "This presents true evidence of Oerlikon's operational performance and its long term growth prospects", says Dr. Uwe Krüger, CEO of Oerlikon.
Georg Stumpf, Chairman of Oerlikon says: "Oerlikon has won Citigroup, one of the strongest banks in the world to support its future activities. We are proud about Citigroup's view on Oerlikon's business, which we deem as affirmation of Oerlikon's strategy and achievements."