Rottneros enters new financing agreement
Rottneros AB (publ) (“Rottneros”) has entered into a new facilities agreement with Danske Bank which provides for a term loan of SEK 150 million and a revolving credit facility of SEK 100 million.
Rottneros will request utilization of the term loan of SEK 150 million on 19 July 2021, for the purpose of refinancing all of its outstanding bonds with ISIN SE0010297804 (as announced by way of press release on 8 July 2021).
The revolving credit facility will be applied towards general corporate purposes, as needed.
The term loan and any revolving credits incurred under the facilities agreement, will accrue interest based on STIBOR 3 months plus a margin. The new financing is estimated to decrease Rottneros’ financing costs with approximately SEK 13 million on an annual basis.
The term of the loan and the facilities agreement is two years. However, the facilities agreement provides for an extension option.
The early redemption of the bonds will entail a one-off cost of SEK 10 million, which will be recognized as a financial cost during the third quarter 2021.
For further information, please contact:
Monica Pasanen, CFO, Rottneros AB
+46 (0)270 622 70, monica.pasanen@rottneros.com
This is information that Rottneros is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 9.00 (CEST) on 14 July 2021.
Rottneros AB (publ)
Box 144, 826 23 Söderhamn
+46 (0)270 622 00
rottneros.com
info@rottneros.com
Rottneros is an independent producer of market pulp. The Group comprises the parent company Rottneros AB, listed on Nasdaq Stockholm, and its subsidiaries Rottneros Bruk AB and Vallviks Bruk AB with operations involving the production and sale of market pulp. The Group also includes Rottneros Packaging AB, which manufactures fibre trays, the wood procurement company Rottneros Baltic SIA in Latvia and the forest operator Nykvist Skogs AB. The Group has about 318 employees and had a turnover of approximately SEK 2,1 billion in the 2020 financial year.
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