RaySearch is granted a waiver for breach of financial covenant in its revolving credit facility agreement and publishes preliminary results for the first quarter 2021
RaySearch Laboratories AB (publ) has breached an EBITDA-based covenant in the company’s SEK 350 M revolving credit facility agreement with Skandinaviska Enskilda Banken (publ) (“SEB”), of which SEK 50 M is currently utilized. As a consequence thereof, SEB has requested pre-payment of the outstanding debt of SEK 50 M. The credit facility will be available for utilization request by the company as soon as RaySearch satisfies all the financial covenants according to the agreement.In 2020, RaySearch had a positive cash flow of SEK 62 M (72) before amortization of credit facilities. RaySearch