Bactiguard secures three-year financing

Bactiguard has received a commitment for a three-year credit facility of SEK 180 million from Skandinaviska Enskilda Banken (SEB), in the form of an overdraft facility of SEK 30 million and a term loan of SEK 150 million. The credit facility replaces current bank financing as well as a loan from the company's main shareholders.

"For some time, we have been working actively to refinance Bactiguard at attractive terms. Therefore, we are pleased to announce that we have secured a three-year credit facility with our new house bank SEB, which replaces both current bank financing and the loan from our main shareholders,“ says Cecilia Edström, acting CFO.

The credit facility, with a term of three years, consists of an overdraft facility of SEK 30 million and a term loan of SEK 150 million. The facility thus replaces the bank loan of SEK 100 million, which expires December 31, 2017, the current overdraft facility of SEK 30 million and the loan from the company's main shareholders of SEK 50 million, due on June 30, 2018. The new term loan of SEK 150 million will be amortized by SEK 35 million until maturity.

The credit facility is subject to customary covenants. Thus, the main shareholders' guarantee commitments for Bactiguard’s financial obligations will end.  

This information is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below 2017-11-08, at. 08.00

For further information, please contact:

Cecilia Edström, acting CFO, cell phone: +46 72 226 23 28

About Bactiguard

Bactiguard is a Swedish medical device company with a mission to save lives. To achieve this mission we develop and supply infection protection solutions which reduce the risk of healthcare associated infections and the use of antibiotics. This way, we save significant costs for healthcare and the society at large. The Bactiguard technology prevents bacterial adhesion and biofilm formation on medical devices. Bactiguard offers the technology through licence agreements and our BIP (Bactiguard Infection Protection) portfolio of products. Through our licence partner CR Bard, urinary catheters with Bactiguard’s coating are market leading in the USA and Japan. Bactiguard’s own product portfolio of urinary catheters, endotracheal tubes and central venous catheters prevent some of the most common infections, which appear in the urinary tract, the blood stream and the respiratory tract.

Bactiguard is in a strong expansion phase in the European markets, China, India and the Middle East as well by establishing license agreements in new therapeutic areas. The company has about 60 employees around the world. Its headquarters and one of two production facilities are located in Stockholm, the other one in Malaysia. Bactiguard is listed on Nasdaq Stockholm.

Read more about how Bactiguard saves lives on www.bactiguard.com


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About Us

Bactiguard is a Swedish medtech company with a global presence, offering a solution that prevents healthcare associated infections caused by medical devices. By preventing infections, we contribute to a reduced use of antibiotics and the spread of multi-resistant bacteria, which is a growing problem worldwide. We save lives, increase patient safety and significantly reduce the cost for the healthcare and society. Our technology is well-proven, safe and tissue friendly and consist of a thin layer of noble metals that prevents bacterial growth. The coating can be applied on almost all medical devices. Bactiguard-coated urinary catheters are market leading in the US and Japan and the company has also its own product portfolio consisting of foley catheters, central venous catheters and endotrachealtubes. Bactiguard is a growth company, focused on markets in Europe, Middle East, Asia and Latin America. The company has about 70 employees worldwide, mainly at the headquarters in Stockholm and the production facility in Malaysia and is listed on Nasdaq Stockholm. Read more about Bactiguard at www.bactiguard.com