Atea ASA raises long-term debt financing after reviewing its financing strategy

On the basis of Atea's strong cash flow performance and deleveraged balance sheet, the company has conducted a thorough review of its financing strategy in order to create maximum value for its shareholders while maintaining a robust capital structure. Atea is today financed through short-term bank facilities only. In order to decrease the dependency on such short-term financing and diversify the sources of financing, Atea has concluded to raise long-term bank debt and bonds in addition to its existing facilities.

The company has received commitment for a NOK 500 million, 5 year non-amortizing bank loan from Nordea. The bank loan will have a covenant limiting the gearing ratio (net interest bearing debt/EBITDA) at quarter-end to 2.5x.

In addition, Atea is contemplating issuing minimum NOK 300 million of senior unsecured bonds with 5 year maturity in the Norwegian bond market. Nordea Markets and SEB are acting as Joint Lead Managers for the bonds issuance.

For further information, please contact:
Rune Falstad, CFO Atea ASA, mobile +47 906 14 482

  
About Atea
Atea is the leading Nordic and Baltic supplier of IT infrastructure with approximately 6,500 employees. Atea is present in 82 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 21 billion in 2012 and is listed on Oslo Stock Exchange.
www.atea.com

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