Homburger advised SR Technics Switzerland AG in CHF 145 m and CHF 120 m credit facilities financing partially guaranteed by the Swiss Confederation
Homburger advised SR Technics Switzerland AG (SR Technics) in a CHF 145 m and CHF 120 m financing transaction with Credit Suisse (Switzerland) Ltd. as mandated lead arranger and coordinator, agent, security agent and lender, a consortium consisting of Raiffeisen Schweiz Genossenschaft, Basellandschaftliche Kantonalbank and Basler Kantonalbank as lenders and the Swiss Confederation, represented by the Swiss Federal Department of the Environment, Transport, Energy and Communications, as surety provider.
The aviation industry has been severely affected by the COVID-19 pandemic. In order to ensure that Switzerland remains connected to the international air transport system, the Swiss Confederation supports the financing with a surety covering 60% of CHF 120 m Facility B. SR Technics operates internationally as a provider of technical maintenance services for aircraft, components and engines, and has its headquarters in Kloten. It provides critical line maintenance, which ensures that Switzerland’s airports continue to operate in an orderly manner.
Homburger advised SR Technics with regard to all legal aspects of the transaction. The Homburger team was led by partner Jürg Frick (Financing and Investment Products) and included associate David Borer (Financing and Investment Products) as well as partner Stefan Oesterhelt (Tax).