Kindred utilises extension option of revolving credit facility agreement and broadens group of lenders
VALLETTA, Malta,Dec. 15, 2022/PRNewswire/ --Kindred utilises the one-year extension option of the revolving facility agreement previously signed inNovember 2021and thereby extends the existing financing untilNovember 2025. The total committed facilities will also be increased byEUR 40 millionby utilising the accordion feature and at the same time the group of lenders will be broadened.
InNovember 2021, Kindred Group plc (Kindred) signed aEUR 216.7 millionmulti-currency revolving credit facility agreement with two Nordic Banks. The agreement also included an uncommitted accordion feature ofEUR 108.3 millionthat permits to increase the total commitments up toEUR 325 million. The facility was committed for a period of three years, with a one-year extension option.
Kindred now utilises the extension option to secure the existing financing untilNovember 2025. At the same time the banking group will be broadened with a third international bank andEUR 40 millionof the accordion feature will be utilised. The total committed facilities thereby increase toEUR 256.7 million, with a continued possibility to, under certain conditions, increase the total commitments up toEUR 325 million.
This further increases Kindred's financial flexibility and supports Kindred's growth initiatives and long-term strategy.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on15-12-202208:00 CET.
CONTACT:
For more information:
Patrick Kortman, Director - Corporate Development & Investor Relations, +46 723 877 438
Linda Lyth, Investor Relations Manager, +46 767 681 337
[email protected]
The following files are available for download:
Press release - Extension of revolving credit facility |
SOURCE Kindred Group
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