INVISIO Communications improves funding
Stockholm, January 23, 2013
INVISIO Communications has received a loan of SEK 15 m from a leading Swedish commercial bank. The loan currency has been used to pay a previous loan from Alecta of SEK 10 m and a loan of SEK 5 m from Erik Penser Bankaktiebolag. The loan from the bank is free of amortization charges during 2013 and will be amortized with SEK 6 m in 2014 and with SEK 9 m in 2015.
Yggdrasil has guaranteed the loan from the bank with SEK 15 m. INVISIO has pledged the securities against Yggdrasil instead of as previously against Alecta and Erik Penser Bankaktiebolag. INVISIO will pay an annual guarantee commission of 3.5 percent to Yggdrasil and the board of INVISIO has the view that the agreement with Yggdrasil is according to market conditions.
“Through this arrangement we reduce the total financing costs by approximately
SEK 700 000 annually and will also have a more secured long-term funding than we previously had”, says Lars Højgård Hansen, CEO of INVISIO Communications. “We are looking forward to deepening the relations with the bank concurrently with the increasing of our sales”.
For additional information, please contact:
Lars Højgård Hansen, CEO INVISIO Communications
Mobile: + 45 53 72 7722
E-mail: lhh@invisio.com
About INVISIO Communications AB
INVISIO Communications AB is a public company listed on the NASDAQ OMX First North Premier Segment (ticker code: IVSO) an alternative market on NASDAQ OMX Stockholm. INVISIO specializes in voice communications in difficult conditions. The company develops, manufactures, markets and sells communication solutions such as advanced headsets control units and accessories for use with two-way radio, primarily for professional users who often work in difficult environments. The customers are for example found in the military and military Special Forces, police and SWAT teams, emergency services, the security sector, and various industries throughout the world. Additional information is available on the company’s web site at www.invisio.com. Mangold Fondkommission AB is Certified Adviser for INVISIO Communications AB.