Techem gets €1.75 billion total term loan and revolver for refinancing

By Wendy Van Sickle

Columbus, Ohio, Aug. 3 – Techem has entered into agreements for a new €1.6 billion senior secured term loan and a €150 million revolving credit facility, according to a news release.

The term loan has a seven–year maturity and is priced at Euribor plus 300 basis points.

Proceeds will be used to refinance existing debt, which the company previously said include €410 million senior secured notes and €325 million senior subordinated notes, and for a recapitalization.

Techem is a Germany-based provider of energy billing and energy management services.

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