Eniro has reached an agreement with PRI

Eniro AB (publ) (”Eniro”) has pledged funds on a bank account in the amount of approximately SEK 200 million as collateral for the group’s commitments towards Försäkringsbolaget PRI Pensionsgaranti, ömsesidigt (”PRI”). As previously announced, the collateral would have been increased with SEK 7 million to SEK 207 million as per 30 June 2018. In connection with, and taking into consideration Eniro’s refinancing through the bond loan issued by Eniro on 25 September 2018, PRI confirmed to Eniro that PRI may be willing to, under certain conditions, give a respite with an increase of the collateral and instead reduce the collateral to SEK 182 million during a 24-months period.

Eniro and PRI have today reached an agreement whereby PRI will receive collateral up to an amount of SEK 35 million in the security package and the guarantees which have been provided in favour of the bondholders. PRI will, in accordance with the bond terms and conditions, receive priority ahead of the bondholders up to this amount. In return, PRI reduces its claim on collateral to SEK 182 million for a period up to 30 September 2020. This gives rise to a liquidity strengthen in the amount of SEK 25 million compared to Eniro otherwise having to pledge additional SEK 7 million to PRI.

 
For more information, please contact:

Örjan Frid, VD Eniro, tel +46 705 611 615, orjan.frid@eniro.com

This information was submitted for publication, through the agency of the contact person set out above, at 07.30 CET on December 3, 2018.

Eniro is a leading search company for individuals and businesses in the Nordic region. Eniro Group has approximately 1,200 employees. The company is listed on Nasdaq Stockholm [ENRO], with approximately 14,000 shareholders at present and is headquartered in Kista, Stockholm. More on Eniro at enirogroup.com