Landis+Gyr News
Landis+Gyr Secures USD 1 BLN Refinancing From Top Banks
The new five-year, multi-currency refinancing package replaces two previous bank facilities. A consortium of 13 international banks provided the new facility, which includes term debt, capital expenditure and bonding, as well as working capital tranches.
The agreement streamlines Landis+Gyr's debt structure and provides flexibility in drawdown and repayment to better manage future funding requirements. In addition to a number of flexible features, Landis+Gyr achieved a lower cost of funding with the facility, reflecting its strong underlying credit quality, moderate overall debt levels and a track record of producing strong financial results.
"We are focused on providing our utility customers with the broadest and most technologically advanced smart grid solutions," said
The banks in the new facility are Barclays Capital, Lloyds TSB Corporate Markets, ING Bank,
"Credit markets are in turmoil and yet we were able to conclude a significant refinancing with first-tier relationship banks," said
In recent weeks, Landis+Gyr has unveiled a number of major deals with utilities across the globe, including one of the biggest yet announced in the U.S. — a four-year advanced metering contract with
Under the agreement, Oncor will deploy a next generation Landis+Gyr advanced meter system to empower seven million
With significant technological progress and encouragement from lawmakers and regulators, smart metering is expected to revolutionize energy management and grid reliability across the globe. Smart metering solutions provide utilities with a two-way flow of data required to manage energy use, efficiency and demand response and network protection. Consumers benefit from lower energy costs, and, crucially, a reduced carbon footprint.
Landis+Gyr, whose operational headquarters is in Zug,
The global group also announced it was uniting its family of clean tech companies around the world under one brand, Landis+Gyr, a name synonymous with technological innovation in energy management for more than a century. As part of the brand integration, former holding company Bayard Group itself was renamed Landis+Gyr Holdings and its subsidiaries Landis+Gyr, Cellnet+Hunt, Ampy Metering, Ampy+Email and Enermet, adopted the Landis+Gyr name as their exclusive operating brand.
Macquarie Capital (
About Landis+Gyr
Landis+Gyr is the leading provider of integrated energy management solutions tailored to energy company needs. With a global presence and a reputation for quality and innovation, Landis+Gyr is unique in its ability to deliver true end-to-end advanced metering solutions. Today, the Company offers the broadest portfolio of products and services in the electricity metering industry, and is paving the way for the next generation of smart grid. With annualized sales of more than
SOURCE Landis+Gyr
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