Ovzon completes facilities agreement for refinancing with Danske Bank
As previously communicated, Ovzon AB (publ) has signed a facilities agreement with Danske Bank for a term loan and a revolving credit facility to refinance existing loan, which significantly will reduce interest expenses and secure basic financing for future growth. The transaction has now been fully completed.
The facilities agreement, which comprises a term loan of 300 MSEK and a revolving credit facility of 300 MSEK, has a tenor of two years with the option of a one-year extension. The interest rate is 3-month STIBOR + 220-290 basis points in accordance with a margin ratchet. With the new loan, previous loan carrying significantly higher interest rate is being repaid.