Haypp Group AB (publ) has, through its wholly owned subsidiary Snusbolaget Europa AB, entered into a revolving credit facility agreement with Danske Bank of SEK 400 million.
The facility agreement comprises a revolving credit facility of SEK 400 million with an initial tenor of two years. The facility will primarily replace the Group's existing overdraft facility of approximately SEK 170 million. Following the refinancing, the overdraft facility will be reduced to SEK 50 million, providing flexibility to manage short-term liquidity fluctuations.
Haypp does not currently expect borrowings under the new facility to exceed the Group's existing debt levels and therefore does not expect the refinancing to result in an increase in financial leverage.
“This secured credit facility strengthens our financial flexibility without adding to our debt burden and places us in a strong position to deliver on our growth strategy,” says Peter Deli, CFO of Haypp Group.
The agreement strengthens the Group's financing platform by providing committed funding, increased financial flexibility and improved visibility over the Group's liquidity resources. In addition, the facility provides capacity to support future growth initiatives and enables the Group to pursue attractive business opportunities should they arise.
For more information and contact:
Markus Lindblad
Head of External Affairs
+46 (0) 708153983
markus.lindblad@hayppgroup.com
Erik Bloomquist, CFA
Head of Investor Relations
+46 (0) 768856483
erik.bloomquist@hayppgroup.com
FNCA Sweden AB
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