Landis+Gyr closed on a five-year, $240 million revolving credit facility that replaced the company’s $215 million bridge loan.
UBS Switzerland led the syndicate of banks that provided the revolver.
“We are pleased to have successfully refinanced our bridge loan, that was originally established in preparation for the IPO, with a flexible multi-currency revolving credit facility,” said Jonathan Elmer, Landis+Gyr’s chief financial officer. “This refinancing increases our liquidity, keeps the cost of capital low and provides currency flexibility.”
Landis+Gyr operates in more than 30 countries, providing integrated energy management solutions for the utility sector.