Eevia Health Plc received a kEUR 495 working capital loan from Nordea
Eevia Health Plc, ("Eevia" or "The Company") has received a working capital loan of kEUR 495 from the Start-Up and Growth division of Nordea Finland with a 70% guarantee from Finnvera.
The amount of the credit is kEUR 495 and the loan is for 48 months with 12 months amortization fee period. The interest is 2,5% over Euribor and is secured with a 70% guarantee from Finnvera and two floating pledges.
In connection with the loan uptake, Eevia Health has entered an interest collar, which provides a fixed 12 Euribor interest rate at 3,89% p.a. The interest rate hedge may be terminated at a breakaway cost. The amount of the breakaway fee depends on the interest rate at the time of termination.
The purpose of the loan is working capital financing. The Interest is paid monthly and the same for the installments after the amortization fee period. The arrangement fee is 1,00 % of the loan amount to Nordea and 0,75% to Finnvera. Grannenfelt Finance in Helsinki arranged the loan for a 3% fee. The loan was received to Eevia’s bank account today.
The achievement of this commercial credit was one of the purposes of the direct equity issue Eevia executed in August. The funding will help Eevia in its acquisition of new customers and sales contracts.
“We are very thankful to Nordea and Finnvera for professional handling the trust and support they show us with this loan. Being able to leverage our equity with foreign financing is an important contribution to our ability to grow. Even after receiving this loan, our equity ratio is 70%.” says Stein Ulve, the CEO of Eevia Health.
For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: stein.ulve@eeviahealth.com
Telephone: +358 400 22 5967
INFORMATION ABOUT EEVIA HEALTH PLC
Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients in dietary supplements and food brands globally. These global brands utilize the ingredients in their consumer product formulas.
Eevia Health is a manufacturer of 100% organically certified plant extracts. Although a significant product, Elderberry extract, is made from cultivated berries, most of Eevia’s other raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion.
Eevia Health operates a modern green-chemistry production facility in Finland. Manufacturing natural ingredients near the raw material harvest areas, Eevia offers a short value chain with an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia listed its shares at Spotlight Stock Market in Sweden in June 2021, with the short name (ticker) EEVIA.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.