Elster Group has secured €590 million in credit and bank guarantee facilities. The new senior facilities include a multicurrency revolving credit facility of €450 million and a multicurrency revolving letter of guarantee facility of €140 million, each maturing in April 2016.
The supplier of metrology and other solutions for the gas and electricity industry has also raised €250 million in a sale of senior unsecured notes due in 2018. The net proceeds will be used to repay all outstanding amounts under the company’s existing senior facilities agreement.
Click here for the release from Elster Group.