Alcadon has entered into a new credit facility agreement with SEB, increasing the credit to SEK 525 million
Alcadon Group AB has on 25 June 2025 entered into a new unsecured facility agreement, a so-called revolving credit facility and term loan from the existing relationship bank, SEB. The credit facilities amount to a total of SEK 525 million with an additional option of an accordion facility of SEK 150 million.
Conditions in brief
- Bank loan, SEK 150 million, of which SEK 100 million with straight amortisation over 10 years and SEK 50 million is non-amortising, reference rate 3M + 1.25-2.10 percentage points depending on debt/equity ratio.
- Revolving credit, SEK 375 million, reference rate 3M + 1.25-2.10 percentage points on utilised portion depending on debt/equity ratio and 0.35 percentage points on undrawn amount.
The new facility agreement has a term of three years, with an extension option of up to two additional years, and is intended to replace Alcadon Group's existing facility agreement with SEB. In total Alcadon's bank financing amounted to SEK 334 million as of 31 March 2025, of which SEK 19 million related to utilised overdraft facilities. The refinancing is expected to reduce financing costs by approximately SEK 0.5 million before tax on an annual basis, based on the debt/equity ratio as of 31 March 2025.
The company reports covenants related to:
1. Leverage ratio1, Net debt/EBITDA R12 <3.25,
2. Interest coverage ratio2, EBITDA R12/Net financial income R12 >3
1The leverage ratio is calculated excluding lease debt and including lease expense attributable to operating leases. EBITDA R12 is calculated including acquired EBITDA as if the acquired company had belonged to the group for 12 months. In the event of an acquisition, the ratio may exceed 3.5 for three consecutive quarters.
2Interest coverage ratio is calculated in accordance with IFRS. EBITDA R12 is calculated including acquired EBITDA as if the acquired company had belonged to the Group for 12 months.
Elidius Advisory has acted as financial advisor and coordinator, and the law firm Delphi has acted as legal advisor, to Alcadon Group in connection with the entry into the new facilities agreement.
Stockholm 2025-06-25