New long-term financing agreement linked to social sustainability
Attendo has entered into a new long-term financing agreement with current lending banks. The new agreement replaces existing credit facilities entered in 2019. The interest rate terms are linked to customer satisfaction and employee satisfaction targets to further strengthen Attendo's focus on socially sustainable value creation.
The new financing agreement includes credit facilities amounting to EUR 125 million and SEK 2.75 billion. The agreement has a term of 3 years with an option to extend for up to 2 additional years.
The credit facilities are linked to selected sustainability key performance indicators (KPIs), where the interest rate is adjusted according to progress on predetermined targets for these KPIs. The KPIs are selected based on how Attendo as a large care company can create value and contribute to the development of society, and therefore include customer satisfaction (cNPS) and employee satisfaction (eNPS). The new agreement contains, as before, customary financial commitments, including that Attendo shall fulfil certain financial terms (covenants).
“It is gratifying that we, in collaboration with the banks, have reached an agreement that meets our financial needs and at the same time supports Attendo's strategic sustainability work. Our operations are an important part of meeting society's care needs. Putting well-being and meaningfulness for both customers and employees at the top of the agenda is central to our work with social sustainability, so it is natural that we now focus on progress in these areas," says Jo-Anna Nordström, General Counsel & Sustainability Director at Attendo.
When the new financing agreement enters into force, the agreement from 2019 will be repaid. The repayment is financed by loans raised under the new agreement, which means that the result in the fourth quarter 2023 will be charged with a one-off cost of approximately SEK 5 million.
The new credit facilities are provided by a consortium consisting of Danske Bank, Nordea, Skandinaviska Enskilda Banken AB (publ), with the latter acting as agent and sustainability coordinator.
Attendo AB (publ)
For further information, please contact:
Andreas Koch, Communications and IR-Director Attendo
Phone: +46 705 09 77 61 | email: andreas.koch@attendo.com
Attendo - the leading care company in the Nordics | For over 35 years, seeing, supporting and strengthening people with care needs has been the starting point of everything Attendo does. In addition to care for older people, Attendo provides care for people with disabilities and social care for individuals and families. Attendo has more than 30,000 employees and is locally anchored with over 700 facilities in around 300 municipalities in Sweden, Finland and Denmark. Every day Attendo has tens of thousands of encounters with its customers. In all these encounters, our employees manifest Attendo’s shared values of care, commitment and competence.