Auris sets up €110 million incremental loans at Euribor plus 325 bps

By Susanna Moon

Chicago, Jan. 26 – Auris Luxembourg III Sarl said it has established a new €110 million incremental facility B5 under its senior facilities agreement dated Dec. 18, 2014.

Interest on the loans will be Euribor plus 325 basis points, subject to a Euribor floor of 1%, according to a company press release.

The tenor and amortization of the new incremental facility are the same as for the company’s existing facility B3, which were not included in the press release.

All other terms are substantially the same as those of the existing facility, the company noted.

Proceeds will be used for the purpose of making direct or indirect distributions to Auris Luxembourg I SA.

Auris Luxembourg II SA is the holding company for Sivantos Ptd. Ltd., formerly Siemens Audiology Solutions, a Singapore-based manufacturer of hearing aids.

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