EANS-Adhoc: gategroup Seeks to Extend and Amend Credit Facilities
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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09.02.2012
ZURICH, Feb. 9, 2012 -- gategroup announced today that it is seeking the
consent of lenders to extend the maturity of its CHF 850 million senior secured
credit facilities expiring in May 2013 along with other amendments to its
documentation. The amendments would reinforce the Group's capital structure and
long-term positioning and increase its operational flexibility.
Consistent with management's prudent long-term strategy, gategroup is
asking lenders to extend their commitments by three years -- term loan
commitments to May 2016 and revolving credit facility commitments to May 2015.
The credit facilities were put in place on May 31, 2007.
The extension and amendments require majority lender consents and each
extending lender will need to confirm its consent to the relevant maturity
extensions. The Company will announce the outcome of the extension and
amendment request in due course.
About gategroup:
gategroup is the leading independent global provider of onboard services to
companies that serve people on the move. gategroup comprises the following
brands: deSter, eGate Solutions, Gate Aviation, Gate Gourmet, Gate Safe,
Harmony, Performa, potmstudios, Pourshins and Supplair.
Shares of Zurich-based gategroup are traded on the SIX Swiss Exchange under
the symbol GATE. Please visit our website at http://www.gategroup.com.
Further inquiry note:
Media: Carol Reed, creed@gategroup.com, +41-43-812-9128, John Bronson,
jbronson@gategroup.com, +41-43-812-2048; or Investor Relations, Dagmara
Robinson, drobinson@gategroup.com, +41-43-812-54-96
end of announcement euro adhoc
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issuer: gategroup Holding AG
Balz-Zimmermannstrasse 7
CH-8302 Kloten
phone: +41 43 812 54 96
FAX: +41 43 812 91 19
mail: invest@gategroup.com
WWW: http://www.gategroupmember.com/
sector: Consumer Goods
ISIN: CH0100185955
indexes:
stockmarkets: Hauptsegment: SIX Swiss Exchange
language: English