Duell Corporation has entered into a new financing agreement with Nordea Bank Abp (“Nordea”). The arrangement includes an EUR 58.5 million senior term and revolving facilities agreement (the “Facilities Agreement”) amending the current financing agreement.
The new agreement is valid as of February 24, 2023 and it replaces the existing financing arrangement without changes to principal amounts of outstanding term loans and available amounts of revolving facilities for working capital needs.
The Facilities Agreement includes amended terms and conditions for loans, credit limits and covenants. The agreed covenants are the customary ratios of net debt to EBITDA (Leverage) and net debt to equity (Gearing). The maturity of the loan facilities under the Facilities Agreement is five years from the date of the agreement.
Jarkko Ämmälä, CEO
+358 50 056 5149
Pellervo Hämäläinen, Communications and IR Manager
+358 40 674 5257
Oaklins Merasco Ltd
+358 9 612 9670
Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering 8,500 dealers. The range of products includes 150,000 items under 500 brands. The assortment covers spare parts and accessories for motorcycling, bicycling, ATVs/UTVs, mopeds and scooters, snowmobiling and boating. Logistics centres are located in Finland, Sweden, Netherlands and France. Duell’s net sales in 2022 was EUR 124 million and it employs over 200 people. Duell’s shares were listed in November 2021 and are traded on the First North Marketplace. www.duell.eu