SWITZERLAND. Leading travel retail to food & beverage services provider Avolta has successfully amended and extended its existing Revolving Credit Facility (RCF).
The amended €2,400 million RCF with maturity in late 2029 replaces the €2,750 million which expires in 2027.
The amended facility contributes positively to the company’s well-balanced debt profile and provides additional benefits, Avolta said, including the following:
- Reduction of interest expenses of approximately CHF10 million (US$11.54 million) per annum due to renegotiated margin levels.
- Extended maturity profile with the amended facility expiring in December 2029, a weighted average maturity of 4.1 years and no material debt maturities before 2026.
- Current available liquidity position of around CHF2.1 billion (US$2.4 billion). ✈
