Teleste has signed EUR 53 million syndicated loan facilities agreement

Teleste Corporation
Stock exchange release
August 30, 2024, at 9:00 a.m. EEST

TELESTE HAS SIGNED EUR 53 MILLION SYNDICATED LOAN FACILITIES AGREEMENT

Teleste Corporation has signed a secured syndicated EUR 53 million loan facilities agreement with its three relationship banks. The agreement includes EUR 26 million term loan and EUR 19 million revolving credit facility for refinancing the Group’s existing indebtedness, as well as commercial guarantee limits totalling EUR 8 million. The agreement has 2-year maturity with two 1-year extension options subject to lenders’ approvals. The term loan is amortised in quarterly instalments of EUR 0.8 million. The new financing arrangement, which replaces bilateral loan agreements maturing in 2025 and 2026, includes customary covenants.

“I want to thank our partner banks for continued cooperation. We are pleased on the terms and diversified lender base of the syndicated agreement, which supports our strategy execution”, says Esa Harju, CEO of Teleste.

The mandated lead arrangers of the syndicated facilities agreement are Danske Bank, Nordea Bank and OP Corporate Bank. OP Corporate Bank acted as the Coordinator and Nordea Bank as the Agent and Security Agent. Nordhaven Corporate Finance acted as financial advisor for Teleste.


TELESTE CORPORATION

Esa Harju
CEO


Additional information:

Esa Harju
CEO

Tel. +358 2 2605 611

investor.relations@teleste.com


About Teleste 
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to you, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2023, Teleste's net sales reached EUR 151.3 million and it had approximately 800 employees. Teleste is listed on Nasdaq Helsinki. For more information, visit www.teleste.com.