Cloetta continues the financing through its existing banking group by entering into a new multicurrency term and revolving facilities agreement. Cloetta furthermore resolved to continue its existing commercial paper program.
The terms as agreed in the facilities agreement will come into effect on 30 June 2021 and comprise, in short, of:
- a SEK 800m term loan repayable on 30 June 2023, with the possibility of extending the facility for an additional two years;
- a EUR 125m term loan repayable on 30 June 2024, with the possibility of extending the facility for an additional two years; and
- a EUR 60m revolving credit facility (currently EUR 120m), available up to 30 June 2025, with the possibility of extending the facility for an additional two years.
The commitments under the facilities agreement are split equally between Danske Bank A/S, DNB Bank ASA, Sweden Branch, Skandinaviska Enskilda Banken AB (publ) and Svenska Handelsbanken AB (publ). Skandinaviska Enskilda Banken AB (publ) is acting as agent and coordinator of the process in their role as Coordinating Bookrunner.
“We are very pleased with the outcome of the refinancing process and the strong interest from our full banking group to continue to partner with us. Importantly, the structure secures financing and provides additional flexibility for the coming years. We look forward to a continued good co-operation with our banking group”, says Frans Rydén, CFO of Cloetta.
Contact
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40