Kongsberg Automotive ASA announces that approval has been obtained from its
syndicate banks, subject to the facility agreement dated March 2015 (the
"Facility"). The Amendment to the Facility is entered as per 31 December 2016.
As per the key terms of such amendment, the following covenants will be waived
until March 31, 2018:
· Gearing ratio
· Capital Expenditure limit
Kongsberg Automotive is very enthusiastic about this level of cooperation and
trust from our syndicate banks. This enables KA to execute our announced
improvement and restructuring plans in addition to continuing to Invest in our
business both in product development and our operations.
Media:
Fredrik Tangeraas, Director, Corporate Communications
Phone: +47 3277 0535; Mobile: +47 9246 4699
Investors / analysts:
Philippe Toth, EVP, Business Development & IR
Phone: +47 3277 0503. Mobile: +47 9821 4021
About Kongsberg Automotive:
Kongsberg Automotive provides world class products to the global vehicle
industry. Our products enhance the driving experience, making it safer, more
comfortable and sustainable. With revenues of EUR 1.0 billion and 10.000
employees in 18 countries, Kongsberg Automotive is truly a global supplier. The
company is headquartered in Switzerland and has 31 production facilities
worldwide. The product portfolio includes seat comfort systems, driver and
motion control systems, fluid assemblies, and industrial driver interface
products developed for global vehicle manufacturers. Find more information at
www.kongsbergautomotive.com