Today, VAT Group signed a syndicated term and multicurrency revolving credit facilities agreement with a syndicate of eleven banks, led by UBS Switzerland AG, to replace its current agreements that are due to expire in 2023.

The agreement consists of a five-year senior rolling credit facility (RCF) of CHF 250 million, with an extension option of 2 years. This RCF replaces with immediate effect the existing USD 300 million RCF, scheduled to expire in April 2023.

Furthermore, VAT entered a committed two-year CHF 200 million senior term loan facility which will be drawn upon the maturity of VAT’s existing CHF 200 million bond in May 2023. This tranche has an extension option of one year.

“We are pleased to have concluded this loan agreement, which secures VAT’s long-term financing,” said Fabian Chiozza, VAT’s Chief Financial Officer. “VAT has consistently strengthened its financial position, credit worthiness and rating over the last couple of years and the new agreement structure, with a five-year RCF plus a two-year term-loan, is a statement of confidence that VAT will continue to deliver strong financial results, allowing it to further reduce its indebtedness over time.”


Additional information

For further information please contact:
VAT Group AG
Communications & Investor Relations
Michel R. Gerber
T +41 81 772 42 55
investors@vat.ch

Financial calendar 2022

Thursday, March 2, 2023Q4 and Full-Year 2022 results
Thursday, April 13, 2023Q1 2023 trading update
Tuesday, May 16, 2023Annual General Meeting, St Gallen
Thursday, July 27, 2023Half-year 2023 results
Thursday, October 12, 2023Q3 2023 trading update

ABOUT VAT

VAT is the leading global developer, manufacturer and supplier of high-end vacuum valves. VAT vacuum valves are mission-critical components for advanced manufacturing processes of innovative products used in daily life such as portable devices, flat screen monitors or solar panels. VAT is organized into two different reporting segments: Valves and Global Service offering high-end vacuum valves, multi-valve modules, edge-welded bellows and related value-added services for an array of vacuum applications. VAT Group is a global player with over 2’500 employees and main manufacturing sites in Haag (Switzerland), Penang (Malaysia) and Arad (Romania). Net sales in the financial year 2021 amounted to CHF 901 million.

FORWARD-LOOKING STATEMENT

Forward-looking statements contained herein are qualified in their entirety as there are certain factors that could cause results to differ materially from those anticipated. Any statements contained herein that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should be considered to be forward-looking statements. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the company to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the company’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the performance, security and reliability of the company’s information technology systems, political, economic and regulatory changes in the countries in which the company operates or in economic or technological trends or conditions. As a result, investors are cautioned not to place undue reliance on such forward-looking statements. Except as otherwise required by law, VAT disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this report.