Kuoni Group agrees new credit facility

Kuoni Group agrees new credit facility

Kuoni Group today agreed a new revolving credit facility of more than CHF 200 million.

It replaces an existing agreement and runs until June 2020.

Kuoni initiated early refinancing of the existing revolving credit facility of CHF 209 million in the first half of 2015 “to benefit from attractive conditions on the capital markets”.

The lenders are a syndicate of seven banks.

The previous credit facility was agreed in 2011 and had a term running until June 2016.

The move follows completion of the sale of Kuoni’s tour operating businesses, including Kuoni UK, to the German REWE group, parent company of DER Touristik, last week.

The Swiss company is now focused on the core activities of travel distribution, travel services and visa provision.


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