Andermatt Swiss Alps secures loan of CHF 125 million
Published: Wednesday, Nov 15th 2023, 11:10
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Andermatt Swiss Alps has agreed a syndicated loan of CHF 125 million with a consortium of Swiss banks led by UBS subsidiary Credit Suisse. The term runs until 2028, whereby the lenders can extend the credit facilities twice by one year, as the tourism company announced on Wednesday.
The loan will be used to refinance existing debt financing as well as to finance operations and further investments in the development of the Andermatt tourism destination. The first-time financing through a syndicated loan is a sign of confidence in the promising prospects of Andermatt Swiss Alps, CEO Raphael Krucker is quoted as saying.
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