Cloetta AB (publ) has renegotiated its bank facilities agreement
Following an improvement in debt market funding opportunities, Cloetta has renegotiated its credit facilities agreement.The amended terms will amongst other things reduce the cost of borrowings and increase operating flexibility. Furthermore it allows Cloetta to make dividend payments as soon as the Net Debt/EBITDA ratio is 4.0x or lower, taking into account the proposed distribution of dividends. However, Cloetta’s financial target to have a Net Debt/EBITDA ratio of around 2.5x, before paying dividends, remains unchanged. The amendments to the credit facilities agreement do not affect