Cavotec has during the past months conducted a competitive process to procure a new long term credit facility, resulting in competing bids involving several bank consortia. After careful evaluation Cavotec has chosen a consortium led by Credit Suisse to provide a five year credit facility as it offered the most competitive overall services and terms.

“I’m pleased with the agreement with Credit Suisse as it gives Cavotec a cost-effective financing, increased financial flexibility and a prolonged time to maturity”, said Mikael Norin, CEO of Cavotec. “To have this positive outcome in the midst of the current pandemic situation is a testament to the strength of our financial standing coming out of the transformation of the company”.

In connection with the new credit facility a corresponding amount will be repaid on the current credit facility.