Kindred utilises extension option of revolving credit facility agreement and broadens group of lenders
Kindred utilises the one-year extension option of the revolving facility agreement previously signed in November 2021 and thereby extends the existing financing until November 2025. The total committed facilities will also be increased by EUR 40 million by utilising the accordion feature and at the same time the group of lenders will be broadened.
In November 2021, Kindred Group plc (Kindred) signed a EUR 216.7 million multi-currency revolving credit facility agreement with two Nordic Banks. The agreement also included an uncommitted accordion feature of EUR 108.3 million that permits to increase the total commitments up to EUR 325 million. The facility was committed for a period of three years, with a one-year extension option.
Kindred now utilises the extension option to secure the existing financing until November 2025. At the same time the banking group will be broadened with a third international bank and EUR 40 million of the accordion feature will be utilised. The total committed facilities thereby increase to EUR 256.7 million, with a continued possibility to, under certain conditions, increase the total commitments up to EUR 325 million.
This further increases Kindred’s financial flexibility and supports Kindred’s growth initiatives and long-term strategy.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-12-2022 08:00 CET.
For more information:
Patrick Kortman, Director - Corporate Development & Investor Relations, +46 723 877 438
Linda Lyth, Investor Relations Manager, +46 767 681 337
ir@kindredgroup.com
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.
Nasdaq Stockholm, KIND-SDB
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