Raketech enters a new agreement to finance future acquisitions
Raketech, a leading online affiliate and content marketing company, continues to optimise its capital structure and has today entered into an agreement with Swedbank for a revolving credit facility of EUR 10 million. With the new facility, Raketech secures a favourable bank funding and a long-term partner for future acquisitions, in line with the ambitions presented in connection with the IPO.
Since the IPO in June, Raketech has amortised the majority of its previous borrowings. Within the framework of the new credit facility with Swedbank, Raketech’s interest expense on the utilised amount is decreased by more than 50 percent. Thanks to the company’s strong financial position and the attractive financing, Raketech can continue to grow through value accretive acquisitions.
Andreas Kovacs, CFO of Raketech, commented: “During autumn, we assessed different types of financing solutions and have now come to an agreement with Swedbank on favourable terms, which gives us the strength that is needed to continue consolidating the European affiliate market. The agreement also gives us a new level of flexibility, as we can optimise our leverage through the possibility to settle utilised amounts when we have excess liquidity. This means that we can keep financial costs low in times that are not as M&A intense. We see good opportunities to conduct additional acquisitions in accordance with our M&A strategy during 2019.”
For more information, please contact Andreas Kovacs, CFO: investor@raketech.com.
This information is such that Raketech Group Holding P.L.C. is required to publish under the EU Market Abuse Regulation. The information was submitted under the auspices of the above contact person for publication at 17.00 p.m. CET on 20 December 2018.
About Raketech Group
Raketech is a leading online affiliate and content marketing company, with expertise in delivering SEO, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser is the company’s Certified Adviser. For more information, visit www.raketech.com.