With the prior approval of the Supervisory Board, the Management Board of the ULTRASONIC Group signed an agreement between the Hong Kong holding China Ultrasonic Outdoorwear Holdings Co. Ltd. and Nomura International (Hong Kong) Ltd. on a USD 60 million (approx. EUR 45 million) credit facility.

Along with Ultrasonic's strong internal financing capacity, this long-term credit facility increases scope for future organic and inorganic growth. The USD 60 million credit facility can be drawn within three months from signature of the agreement. If used, the nominal interest rate will be the 3-month USD Libor rate (currently 0.235%) plus 4.15% p.a. The term of the credit facility is 36 months and the repayment instalments are 5% after 18 months, followed by five instalments of 15% at three month intervals and a final instalment of 20%.