IRRAS Secures Extended Short-Term Loan Agreement
Stockholm, Sweden (August 3, 2023) – IRRAS AB (“IRRAS” or the “Company”) today announced an extension of its short-term financing agreement with Bacara Holdings, its second largest shareholder, which is led by Marios Fotiadis, the Company’s Chairman of the Board of Directors. The total loan facility has been increased from SEK 40 million to SEK 60 million with the added amount paid immediately in a tranche of MSEK 20, and will continue to carry an interest rate in the amount of 6.00% on an annual basis.The loan will fall due on 15 September 2023. Repayment of the loan will be secured by a