SI Group announces closing of comprehensive recapitalization
SI Group announced the successful completion of a comprehensive recapitalization transaction supported by its lenders and equity partners.
Through this transaction, SI Group has reduced its outstanding net indebtedness by approximately US$1.7 billion, an over 80% reduction, and made amendments to its revolving credit facility, both will materially enhance the Group’s financial and operational flexibility going forward.
In addition, a new institutional ownership group has injected US$150 million of junior capital, showing their confidence in SI Group’s long-term outlook. This investment will enable SI Group to fund its working capital needs, invest in key operational initiatives, and accelerate growth to serve the needs of its customers and business partners.
“This recapitalization represents an important step for SI Group. By reducing our debt and securing new investment, we have strengthened our financial foundation, allowing us to continue investing in growth, improving operational capabilities, and supporting our customers worldwide,” commented David Bradley, President and CEO of SI Group.
