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Eniro AB Signs Commitment Letter on Long-Term Financing


Wednesday, 24 Apr 2013 02:00am EDT 

Eniro AB announced that over a year before its current bank loans expire, the Company has signed a commitment letter on long-term financing. All six banks in the Company‚Äôs banking consortium (Danske Bank, DNB, Handelsbanken, Nordea, SEB and Swedbank) have committed to the financing, which runs for three years, with an option to extend by one year to four years on the condition that SEK 800 million of the bank loan is replaced by a corporate bond. New long-term financing will create increased stability, more flexible rate of annual loan payments, enhanced operational flexibility and a continued possibility for future dividends. The loan amounts to SEK 3 billion and is on interest-rate terms in line with the current agreement. For the year 2013 the bank loan is expected to decrease with approximately SEK 375 million. For the years 2014 through 2016, the scheduled annual amortizations will be approximately SEK 375 million (to be paid semi-annually). Eniro may also make additional voluntary prepayments. Worked-up cash flow and the cash balance at the beginning of the year will be used for the repayments. 

Company Quote

11.6
-0.55 -4.53%
11:29am EDT