More aggressive than ever before thanks to new financing.
Erich Utsch AG secures financing with a new agreement until 2024.
Siegen. After more than half a year of preparation, it has now been official since 11 October 2019. The new financing agreement for the entire UTSCH Group has been signed and sealed. The economic consolidation of Erich Utsch AG and its subsidiaries is thus taking a big step forward.
The new agreement prematurely replaces a former financing agreement dating from 2017 and reflects the new conditions within the UTSCH Group, which has undergone sustainable structural change with the sale of its shares in an investment and the acquisition of a majority stake in the Australian company LicenSys.
"Following the sale of shares as an important step on the road to economic consolidation of the UTSCH Group, the next step was to adjust the financing structure. We have benefited from the current financial market environment to a great extent in order to secure attractive financing conditions," said Dominic Höffgen, CFO of Erich Utsch AG.
The syndicated loan agreement drawn up under the lead management of Deutsche Bank and Commerzbank now secures financing at group level, including the companies abroad, at least until 2024. This gives UTSCH further scope of action for economic development with immediate effect: "Although we have already made numerous significant investments over the past two years, the new financing structure will enable us to shift up a gear economically and structurally and further expand our market position," says Höffgen, "because we are more aggressive than ever before!“