Zumtobel Refinances 500 Million-Euro Syndicated Loan Agreement

Zumtobel AG (ZAG), Europe’s biggest maker of industrial lighting, concluded a new syndicated loan agreement with a maximum line of 500 million euros ($677 million) and a five-year term ending on Oct. 28, 2016, according to a statement today.

This facility was placed with a syndicate of seven banks led by Commerzbank AG (CBK), Raiffeisen Bank International AG (RBI) and UniCredit Bank Austria AG, the Dornbirn, Austria-based company said. The new loan replaces the existing syndicated facility of 480 million euros that was concluded in 2008 and would have expired in June 2013.

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