FACC has concluded a syndicated loan of EUR 225 million (US$240 million) to finance its continuing growth strategy. FACC, headquartered in Austria, is a supplier of aerospace systems, including major parts of the Airspace cabin interior for the Airbus A320 Family of aircraft.
Under the lead of five long-term finance partners, including Unicredit Bank Austria, Raiffeisenbank International and Erste Group Bank, FACC has restructured and extended its existing syndicated loan of EUR 225 million. The financing facility has a term of three years, with a two-year renewal option.
“The flexibility of this credit line gives FACC the opportunity to be successful in the global market while promoting strategic growth,” stated Robert Machtlinger. CEO of FACC.
According to FACC the extension of the financing facility will enable the company to further expand its global footprint, including updates to the new high-tech plant it opened in Croatia in June 2022, as well as further growth initiatives in its core business and its new business areas of urban air mobility and space.
The loan includes two programmes of EUR 69 million, issued by the Austrian Kontrollbank to finance foreign investments and export investments, and provide a solid basis for the planned capital expenditures. FACC also intends to repay the KRR COVID-19 framework credit from the Austrian Kontrollbank, which amounts to EUR 60 million.