Tecnotree has agreed on the terms of the renewal of its debt
Stock Exchange Release
12th August 2013, at 3.30 pm EEST
Tecnotree has agreed with its bank on the conditions of the renewal of the debt of the company (Term Sheet). The term of financing is five years and it consists of a long-term loan of approximately EUR 21.8 million, a credit facility of EUR 10 million to finance working capital and a EUR 2 million bank guarantee limit. This arrangement gives Tecnotree EUR 5 million more financing as the credit line for work in progress financing goes up from EUR 5 million to EUR 10 million.
A standard form of financing agreement has been agreed to be made according to the now agreed conditions by the end of August.
Ilkka Raiskinen, CEO, tel. +358 45 113 113
NASDAQ OMX Helsinki Oy
Tecnotree is a global provider of telecom IT solutions for the management of products, customers and revenue. Tecnotree helps communications service providers to transform their business towards a marketplace of digital services. Tecnotree empowers service providers to monetise service bundles, provide personalised user experiences and augment value throughout the customer lifecycle. With over 1100 telecom experts, Tecnotree serves more than 100 service providers in over 70 countries. Tecnotree is listed on the main list of NASDAQ OMX Helsinki with the trading code TEM1V. For more information on Tecnotree, please visit www.tecnotree.com