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Signify: replaces existing loans with new lending structure

(CercleFinance.com) - Besides the re-appointment of its CEO for another four years, Dutch lighting group Signify has also said that it has signed a new loan structure and a revolving credit facility to replace its existing financing sources.

The new loan structure consists of 400 million euros and 275 million dollars, maturing in three years (January 2023) and 340 million euros and 225 million dollars, maturing in five years (January 2025).

The new multi-currency revolving credit facility of 500 million euros has a maturity of five years (January 2025), with the option to extend it twice, the group said.

The new facilities - that have been agreed with a syndicate of 16 international banks - are to replace existing financing sources of approximately 1.2 billion euros which were due to expire in May 2021.

Signify said that the new term loan extends the group's maturity profile.

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