Andermatt Swiss Alps receives loan of 125 million Swiss francs
Property developer Andermatt Swiss Alps has secured a syndicated loan of CHF 125 million. It will be used to refinance existing debt financing, finance operations and further investments in the development of the Andermatt UR destination.
According to a press release, Andermatt Swiss Alps AG has concluded a syndicated loan of CHF 125 million with a consortium of Swiss banks led by UBS subsidiary Credit Suisse (Switzerland) Ltd. The term is four years. The lenders can extend the credit facilities twice by one year.
According to the information provided, the loan will be used to refinance existing debt financing and to finance operations. It is also intended to enable further investment in the development of Andermatt as a destination.
“The first-time financing through a syndicated loan is a vote of confidence in the successful development and market positioning as well as the promising prospects of our company,” CEO Raphael Krucker is quoted as saying. The transaction was led by CFO Melina Marty and accompanied by Advestra as legal advisor.