Cloetta’s loan portfolio consists of bank loans from a group of four banks (Danske Bank, DNB, Skandinaviska Enskilda Banken and Svenska Handelsbanken) in SEK and EUR currencies and a commercial paper program in SEK.
Cloetta continued the financing through its existing banking group by entering into a new multicurrency term and revolving facilities agreement which came into effect on 30 June 2021. On 27 October 2022, Cloetta entered into an amendment and restatement agreement with the existing banks. The agreement was entered into to arrange for additional financing for the new greenfield facility to be established and comprise, in addition to the existing facilities, of:
- a EUR 100m term loan repayable on 27 October 2025, with the possibility of extending the facility for an additional two years; and
- a EUR 60m revolving credit facility, available up to 27 October 2026, with the possibility of extending the facility for an additional year.
On 17 May 2023, Cloetta extended its loan facilities by one year and on 24 May 2024, Cloetta entered into an amendment and restatement agreement The terms as agreed in the multicurrency term and revolving facilities agreement as per 30 June 2024 comprise of:
- a SEK 800m term loan repayable on 30 June 2026;
- a EUR 125m term loan repayable on 30 June 2026;
- a EUR 60m revolving credit facility, available up to 30 June 2027,
- a EUR 60m revolving credit facility, available up to 27 October 2027,
- a EUR 100m term loan repayable on 27 October 2027, with the possibility of extending the facility for an additional year.