Under the Nordea facility, the parties have agreed to realign the debt structure into a long-term facility of
ITAB will be subject to interim financial covenants under both the Nordea and the Svensk Exportkredit facilities. The interim financial covenants are adapted to support ITAB in the current market environment impacted by COVID-19. The facilities will be used for running business operations.
As part of the total refinancing solution, the board of directors has agreed on the terms for short-term shareholders' loans with
As previously communicated, ITAB has appointed an independent financial adviser to support our work with assessing and pursuing financial options which will allow ITAB to transform its business and consolidate its market position as the leading retail solution provider. This new arrangement with our banking partners is an important pillar of that activity.
This information is such information that
For further information, please contact:
ITAB Shop Concept AB
CEO Andréas Elgaard
Telephone: +46 36 31 73 00
Mobile: +46 73 232 16 35
Box 9054, SE-550 09 JÖNKÖPING
Telephone: +46 36 31 73 00
itab.com, itabgroup.com
AT ITAB we help customers turn consumer brand experience into physical reality with our know-how, solutions, and ecosystem of partners. We co-create with our customers, efficient retail solutions that deliver convenient and inspiring consumer experiences. The offer includes consultative design services, custom-made interiors, checkout systems, consumer guidance solutions, professional lighting systems and interactive digital solutions for the physical store. ITAB has approximately 3,200 employees and net sales in 2019 amounted to MSEK 6,064. The company's B share is listed on Nasdaq Stockholm.
https://news.cision.com/itab-shop-concept/r/itab-has-renegotiated-terms-of-its-credit-facilities-and-intends-to-enter-into-short-term-shareholde,c3142226
https://mb.cision.com/Main/862/3142226/1269987.pdf
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