Loomis Secures Major Credit Facility: EUR 150 Million to Fuel Growth and Development
Loomis AB, a leading provider of secure payment and cash management solutions, has announced a major credit facility agreement. The company has signed a syndicated, revolving credit facility of EUR 150 million with a tenor of three years and two extension options of one year each.
According to the company’s press release, the facility will replace an existing revolving credit facility originally set to mature in January 2024. The funds will be used to finance working capital, investments, and other general corporate purposes. The lead arrangers for the facility include Bank of America, Danske Bank, NatWest, Nordea Bank, and Société Générale.
“Loomis continues to grow and evolve, and this credit facility will provide the necessary resources to support our ongoing development,” said a Loomis representative. “We are pleased to have the support of these leading financial institutions as we work to enhance our offerings and meet the needs of our customers.”
Loomis operates through an international network of more than 400 branches in over 20 countries. The company’s services include safe and effective comprehensive solutions for payments and distribution, handling, storage, and recycling of cash and other valuables. Loomis serves banks, merchants, and other operators, and employs around 24,000 people. The company had revenue of approximately SEK 19.7 billion in 2021 and is listed on the Nasdaq Stockholm Large-Cap list.
This news is a clear indication of Loomis’s commitment to growth and development, and the company’s leadership in the cash management and payment solutions industry. The credit facility will provide Loomis with the necessary resources to support its ongoing development, further solidifying its position in the market. This is a positive development for the company and its shareholders, as well as its customers.
In conclusion, Loomis’s credit facility is a significant step forward for the company, and will allow it to continue to grow and evolve. With the support of leading financial institutions, Loomis is well-positioned to continue to meet the needs of its customers and enhance its offerings.
Helen is a seasoned journalist with a focus on Trending News. She has a degree in journalism and has been working as a journalist for more than 10 years.
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