EcoOnlin: Successful refinancing lowers interest rates and expands financing facilities

Oslo, 10 November 2021 | EcoOnline AS, a subsidiary of EcoOnline Holding AS
("EcoOnline" or "the Group"), has today entered into an agreement for the full
refinancing of its current debt at highly improved terms through ESG linked
notes. The agreement also includes additional committed financing facilities for
the financing of potential future acquisitions. 

EcoOnline has a solid cash position of NOK 413 million as of today and positive
cash flow from operations. The company has of today ~ NOK 350 million in
interest bearing debt in SEK notes from financing of previous acquisitions,
which is now being refinanced at favourable terms. In addition, new financing
facilities for potential further acquisitions are obtained, but no additional
debt is taken out at this point. 

The agreement has a total credit framework of EUR 150 million. The notes carry
an interest rate of 5.95%, which is in part linked to the performance by the
Group of its strategic ESG performance criteria. 

Of the EUR 150 million total framework amount, EUR 35.5 million will be used for
the full refinancing of EcoOnline's current outstanding senior secured SEK notes
that carries an interest rate of 9.5%, and an additional EUR 114.5 million will
be available for financing of future acquisitions.

The financing is provided by Ture Invest AB, the leading direct lending provider
in the Nordics and for software companies in Europe with ca. EUR 1 billion in
AUM.
The notes mature at the end of December 2025.

"EcoOnline has with this new debt frame both lowered interest costs
significantly and secured access to further financing of our growth journey
going forward. I am pleased with continuing our close cooperation with Ture
Invest, that has followed our development over last 3,5 years and that they
clearly with these renewed terms confirms our ESG contribution" says Göran
Lindö, CEO of EcoOnline.

"We have been working as a debt financing partner to EcoOnline since the
beginning of 2018 and are impressed by the organic growth generated complemented
by the strategic acquisitions executed. We look forward to continue to support
the company with financing of additional add-on acquisitions going forward.
Additionally, EcoOnline's clear focus on EHS fit our ESG criteria well and we
are pleased to offer a margin discount as the company develop its ESG goals"
says Martin Torell, Partner, Ture Invest.

The refinancing transaction is expected to close shortly.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

For more information please contact: 
Siw Ødegaard, CFO and Head of IR of EcoOnline  
Tel: + 47 95 75 98 48 
Email: [e-mail]   
 
 

ABOUT ECOONLINE 
EcoOnline is a European EHSQ SaaS market leader dedicated to developing software
creating safer and more sustainable workplaces while ensuring compliance.
EcoOnline has offered a positive contribution to customers and society since its
inception and is a leader in the Nordics, UK and Ireland. The company has
experienced strong organic growth over the last years and has also a clear
history of successfully acquiring and integrating companies with the same level
of employee engagement as EcoOnline

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