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USI Group Holdings AG Bahnhofstrasse 106, Postfach 1317
CH-8001 Zürich, Switzerland
PRESS RELEASE
16 December 2011
On 1st December, the Board of USI Group Holdings
AG ("USI") announced that the lending syndicate (the
"Syndicate") for its properties in Leipzig, Germany leased to
the Free State of Saxony (the "Leipzig Properties") had
granted an extension of the present loan facilities (the
"Facilities") until 16
December 2011 and that discussions were underway with the
Syndicate relating to a further extension. Those discussions
have not resulted in a formal agreement with regard to an
extension as of this date and the Facilities are technically
now due for redemption.
As at all times in the past, USI will continue to pay
interest and principal when due under the Facilities as it
seeks new sources of financing for the Leipzig Properties and
maintains a dialogue with the Syndicate. The climate for
refinancing is very difficult; however, RP&C International,
USI's manager, has identified sources for approximately 60%
of the refinancing amount. Various avenues are being pursued
with respect to the remaining 40% and the company hopes to
conclude a refinancing as early as possible in the New
Year.
Further information regarding the status of the Facilities
and refinancing will be provided as appropriate.
USI Group Holdings AG
Dr. Volkert Klaucke (Chairman)
Dr. D. Srinivas
Direktor und Investor Relations Officer
Telefon: +44 20 7766 7000
SWIX Swiss Exchange - Valorennummer 227.101, ISIN CH0002271010
Not for distribution in the United States of America
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