Bergs Timber enters into a new loan agreement

Bergs Timber AB (publ) and its subsidiaries have entered into an agreement with Danske Bank A/S, Denmark, Sweden Branch and AB Svensk Exportkredit (SEK) as lenders regarding, among other things, refinancing of the major part of the group’s existing loans.

The new credit facilities in the total amount of SEK 750 million have a three-year term and include three term loans and a revolving loan facility of SEK 250 million. The term loans shall be quarterly amortised beginning as of 30 September 2019. The terms for the new credit facilities are in accordance with an offer previously received from Danske Bank and SEK. The loan agreement contains customary covenants that, among other things, limit the decision-making for Bergs Timber AB (publ) regarding pledging of assets, borrowing or granting security, disposal of assets and merging or consolidating business with other companies. In addition, the agreement stipulates that yearly dividends shall not exceed 40 per cent of previous year’s net profit.

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Further information about this press release can be provided by Bergs Timber’s CEO and group president Peter Nilsson,+46 703 15 09 27 or CFO Anders Marklund, +46 702 84 47 96.

The information is such that Bergs Timber AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 14 June 2019 at 17.00 (CEST).

Bergs Timber AB (publ), 556052-2798, Bergs väg 13, SE-570 84 Mörlunda, telephone +46 10 19 98 500. More information about our operations can be found on our web page under the address www.bergstimber.se.

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About Us

Bergs Timber can be found on both sides of the Baltic Sea with sawmills and processing in an overall production totalling around 1 million cubic meters of sawn timber products. In Latvia we manufacture gardening products, windows, doors and prefabricate houses, while in Sweden we have a facility for rot-proofing wood. We also have an operation in the UK. We are entrepreneurs in an organisation with decentralised responsibility. The entire business is characterized by security and reliability. We always aim to be perceived as the most attractive alternative for our customers through modern, made-to-order production and a unique product. We make investments in our facilities and fine tune them daily to meet your requirements. Forest owners can feel safe with us as their collaborative partner in the forestry industry. We also make the best possible use of your timber in our facilities. Wood binds carbon dioxide and the wood products industry helps people make sustainable, climate-friendly choices. People who invest in Bergs Timber are making a sustainable investment.

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