Mytaste Group refinance existing financing arrangements
Mytaste Group has entered a financing agreement with Nordea Bank. This agreement concerns a refinancing of Mytaste Group’s existing financing arrangements and will support Mytaste Group’s strategy to grow organically and through acquisitions. The bank financing is accumulated to SEK 20 million and with the potential to get additional bank financing on upcoming acquisitions, on a case by case basis subject to approval from Nordea Bank.
The bank financing consists of a bank loan of SEK 20 million and an agreement on a so-called cash credit facility of SEK 4 million with a cash pool for efficient cash management within the Group and its subsidiaries. These central agreements replace current scattered credit agreements and cash credit facilities from banks and other lenders.
The new bank financing runs for five years and strengthens Mytaste Group‘s maneuverability of continued acquisitions and growth.
"We are pleased to have reached this agreement, which contributes to Mytaste Group’s financial stability and long-term strategy with the Nordea Bank financing agreement. The intention with the financing agreement is for Mytaste Group to be able to materialize on the opportunities that are in front of us", says Andereas Friis, CEO.
Mytaste Group will as part of the bank financing review current debt on the balance sheet and optimize the interest-bearing debts in line with the most efficient way for Mytaste Group.
The information was submitted for publication on 24 April, 2019 at 13:00 CET.
For more information see: investor.mytaste.com:
CEO / Founder myTaste AB (publ)
+46 (0) 739 944 670
About Mytaste Group
Mytaste Group is a digital media house that owns and operates a leading international advertising network as well as a number of digital products and services within performance-based marketing of e-commerce stores. Mytaste Group has two business areas: Mytaste Shopping and Mytaste Food & Beverage. The company is listed on Nasdaq First North Premier in Stockholm under the ticker "Taste".
Arctic Securities is the Company's Certified Adviser, telephone number: +46 8 44 68 60 87,