Sika AG agreed yesterday with a syndicate of 14 well-known banks, headed by UBS, to establish a 5-year credit facility in the amount of CHF 350 m. The facility, issued for the first time, was substantially oversubscribed.

Sika expects to use the credit line primarily as a reserve and for facilitating its central cash management. Local borrowing is to be replaced by a central Group liquidity administration. The funding will also secure continued growth of the Group.