Musti Group to strengthen its financing base by signing a Facilities Agreement with Danske Bank, OP Corporate Bank Plc and Swedbank AB (Publ)
Musti Group plc Stock Exchange Release 28 August 2024 at 3 p.m.
Musti Group to strengthen its financing base by signing a Facilities Agreement with Danske Bank, OP Corporate Bank Plc and Swedbank AB (Publ)
Musti Group has signed a 3+1 year Facilities Agreement with Danske Bank, OP Corporate Bank plc and Swedbank AB (Publ). The Facilities Agreement consists of a EUR 110 million Term Facility, a EUR 100 million Revolving Credit Facility and an uncommitted Accordion Facility of EUR 60 million. The proceeds will be used to refinance existing indebtedness and to support the company achieving long-term strategic goals.
The Facilities Agreement matures in August 2027 and with the agreed 1-year extension option, final maturity reaches August 2028. Danske Bank acted as coordinator and facility agent for the arrangement, White & Case LLP supported the company during the negotiations as legal advisor and Borenius Attorneys Ltd acted as the banks’ legal advisor.
“The reached arrangement secures the funding for at least the next 3 years and enables us to take the next growth step. We are grateful for the support from the banking group and eager to continue the success story of Musti” – David Rönnberg – CEO.
Additional information:
Robert Berglund
CFO
Tel. +358 50 534 8657
Martin Svedholm
Director, Treasury and Investor Relations
Tel. +358 50 579 0324
Distribution:
Nasdaq Helsinki
Main media
www.mustigroup.com
Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company, and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.
Musti Group’s net sales were EUR 426 million in the financial year 2023. At the end of the financial year 2023, the company had 1,643 employees, 1.5 million loyal customers and 342 stores.