Cloetta amends and extends current loan agreement and launches commercial paper programme
Cloetta AB enters into an amendment and restatement regarding its current term and revolving facilities agreement (the “Facilities Agreement”) with a group of four banks. A commercial paper programme will also be launched to reduce certain debts. Annual savings are expected to be approximately SEK 10m.The amendments to the Facilities Agreement are expected to come into effect during June 2018, subject to certain customary conditions precedent, and comprise, in short, of: a EUR 50m reduction under the current EUR 175m term loan, including an extension of the tenor from three to four years