Brief: Ercros Closes Syndicated Financing Agreement For Next Six Years

Ercros SA

28/12/2023 07:07

Dec 28 (Reuters) - Ercros SA  ECR.MC :
    * CLOSES FINANCING AGREEMENT FOR NEXT SIX YEARS
    * SIGNS WITH POOL OF FINANCIAL ENTITIES SYNDICATED FINANCING
AGREEMENT FOR NEXT SIX YEARS FORMALIZED IN TWO LINES OF
FINANCING FOR TOTAL AMOUNT OF 217 MILLION EUROS
    * FIRST LINE IS SYNDICATED FACTORING CONTRACT THAT
ANTICIPATES
ACCOUNTS RECEIVABLE FROM CLIENTS AND WILL ALLOW WORKING CAPITAL
TO BE FINANCED UP TO 102 MILLION EUROS, WHICH REPLACES CURRENT
FACTORING CONTRACT EXPIRING IN MAY 2024
    * SECOND LINE HAS MAXIMUM AMOUNT OF 115 MILLION EUROS WITH
TWO
TRANCHES
    * FINANCING COVERS ALL NEEDS ANTICIPATED BY COMPANY IN
COMING
YEARS AND WILL ALLOW ERCROS TO UNDERTAKE NECESSARY INVESTMENTS
TO COMPLETE ITS 3D PLAN (2021-2025)

Source text for Eikon:  ID:nCNM1Ns9Z2 
Further company coverage:  ECR.MC 

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