Andermatt Swiss Alps secures 125 million loan
The loan is to be used to refinance debt financing and also serves to finance operations and further investments in Andermatt.
Andermatt Swiss Alps AG has concluded a syndicated loan of CHF 125 million for the first time with a Swiss banking consortium led by Credit Suisse. This was announced by the real estate developer.
According to Andermatt Swiss Alps, the loan will be used to refinance existing debt financing, while at the same time financing operations and enabling further investments in the development of the destination in Andermatt. "The first-time financing through a syndicated loan is a sign of confidence in the successful development and market positioning as well as the promising prospects of our company," says Raphael Krucker, CEO of Andermatt Swiss Alps AG.
The term is four years until 2028 and the banks can extend the credit facilities twice by one year.
CFO Melina Marty led the transaction at Andermatt Swiss Alps, with the law firm Advestra acting as external legal advisor. (ah)
