SR TECHNICS CLOSED 110 MILLION$ SENIOR MULTICURRENCY REVOLVING CREDIT FACILITY
SR Technics, a world leading MRO service provider, announced the successful close of a USD 110 million senior multicurrency revolving credit facility (RCF) in cooperation with a group of leading Swiss banks. The RCF contains the option to increase to USDm 150.
SR Technics is ready to seize the current strong momentum in the MRO market and is exploring opportunities to expand its services further, especially in Engine Services. The ring-fenced RCF will be used to provide the required liquidity for capital expenditures and to finance further growth in the working capital intensive business that SR Technics is engaged in.
Sven Kussmann, Chief Financial Officer, said: “The deal was underwritten by four major Swiss banks which have been cooperating with SR Technics for many years and is proof to us of mutual trust and partnership. Our strong brand with decades of Swiss made MRO experience, our well-known capabilities and experienced employees are the grounds to this partnership. The capital secured is important to strengthen our position as a leading global MRO provider offering world-class total care capability.”