Loan agreement with European Investment Bank (EIB)
Atea ASA has today entered into a loan agreement for NOK 475,000,000 with the European Investment Bank. The loan is unsecured, and will be repaid in a single installment following a term of five years. The rate of interest on the loan is NIBOR 6M + 0.99%.
The European Investment Bank is the world’s largest multilateral lender and is owned by the European Union Member States. The EIB supports projects that make a significant contribution to growth and employment in Europe, with a focus on four priority areas: Innovation and skills, SME’s, Infrastructure, and Climate and environment.
Proceeds of the loan to Atea will be used to finance expansion and innovation within Atea’s cloud computing offering, enhancements to the company's IT platforms, and investments in a new IT logistics centre and recycling facility. These projects will be implemented during a period from 2018 – 2021.
“We are very pleased to gain the financial support of the European Investment Bank for Atea’s investment programs during the coming years,” commented Robert Giori, Chief Financial Officer.
For further information, please contact:
Robert Giori, Chief Financial Officer Atea ASA, mobile (+47) 934 09 188
Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with 7,000 employees. Atea is present in 87 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 32 billion in 2017 and is listed on Oslo Stock Exchange. www.atea.com