Capital/Financing Update • Dec 22, 2022
Capital/Financing Update
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VAT Group AG / Key word(s): Financing
VAT successfully completes refinancing
22.12.2022 / 18:00 CET/CEST
Today, VAT Group signed a syndicated term and multicurrency revolving credit facilities agreement with a syndicate of eleven banks, led by UBS Switzerland AG, to replace its current agreements that are due to expire in 2023.
The agreement consists of a five-year senior rolling credit facility (RCF) of CHF 250 million, with an extension option of 2 years. This RCF replaces with immediate effect the existing USD 300 million RCF, scheduled to expire in April 2023.
Furthermore, VAT entered a committed two-year CHF 200 million senior term loan facility which will be drawn upon the maturity of VAT’s existing CHF 200 million bond in May 2023. This tranche has an extension option of one year.
“We are pleased to have concluded this loan agreement, which secures VAT’s long-term financing,” said Fabian Chiozza, VAT’s Chief Financial Officer. “VAT has consistently strengthened its financial position, credit worthiness and rating over the last couple of years and the new agreement structure, with a five-year RCF plus a two-year term-loan, is a statement of confidence that VAT will continue to deliver strong financial results, allowing it to further reduce its indebtedness over time.”
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For further information please contact:
VAT Group AG
Communications & Investor Relations
Michel R. Gerber
T +41 81 772 42 55
Financial calendar
| Thursday, March 2, 2023 | Q4 and Full-Year 2022 results |
| Thursday, April 13, 2023 | Q1 2023 trading update |
| Tuesday, May 16, 2023 | Annual General Meeting, St Gallen |
| Thursday, July 27, 2023 | Half-year 2023 results |
| Thursday, October 12, 2023 | Q3 2023 trading update |
ABOUT VAT
We change the world with vacuum solutions – that is our purpose as the world's leading developer, manufacturer and supplier of high-end vacuum valves. VAT vacuum valves are mission-critical components for advanced production processes of innovative everyday products such as portable devices, flat screen monitors or solar panels. VAT reports in two different segments: Valves and Global Service. Under the latter, we provide our customers with original spare parts, maintenance, technical support and training for various vacuum valve applications. With over 2,500 employees worldwide, representatives in 29 countries, net sales of CHF 901 million (2021) and manufacturing sites in Switzerland, Malaysia, Romania, and Taiwan, we are sustainably shaping our highly specialized market.
FORWARD-LOOKING STATEMENT
Forward-looking statements contained herein are qualified in their entirety as there are certain factors that could cause results to differ materially from those anticipated. Any statements contained herein that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should be considered to be forward-looking statements. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the company to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the company’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the performance, security and reliability of the company’s information technology systems, political, economic and regulatory changes in the countries in which the company operates or in economic or technological trends or conditions. As a result, investors are cautioned not to place undue reliance on such forward-looking statements. Except as otherwise required by law, VAT disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this report.
End of Media Release
| Language: | English |
| Company: | VAT Group AG |
| Seelistrasse 1 | |
| 9469 Haag | |
| Switzerland | |
| Phone: | +41 81 771 61 61 |
| Fax: | +41 81 771 48 30 |
| E-mail: | [email protected] |
| Internet: | www.vatvalve.com |
| ISIN: | CH0311864901 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1520455 |
| End of News | EQS News Service |
1520455 22.12.2022 CET/CEST
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