July 9, 2018 / 5:15 AM / 2 months ago

BRIEF-Ceva Logistics Commences Refinancing

July 9 (Reuters) - CEVA LOGISTICS AG:

* COMMENCES REFINANCING

* TO OFFER $400 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF SECURED TERM LOAN B DUE 2025 ( “NEW LOAN”) IN A PRIVATE OFFERING

* ALSO PLANS TO ENTER INTO A NEW $600 MILLION SENIOR REVOLVING CREDIT AND ANCILLARY FACILITY DUE 2023 ( “RCF”)

* ADDITIONAL OFFERING OF DEBT IN EURO AND OF AROUND $350 MILLION MIGHT FOLLOW AT LATER STAGE

* COMPANY IS COMMITTED TO FURTHER DELEVERAGING WITH A TARGET OF 1.5X-2.0X NET DEBT/ADJUSTED EBITDA IN MEDIUM-TERM Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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