Storskogen Group AB (publ) ("Storskogen") has entered into a new, unsecured syndicated term facility agreement of EUR 300 million. The purpose of the facility agreement is to refinance a portion of the outstanding revolving loan under Storskogen's existing revolving credit facility agreement, dated 24 September 2021, of EUR 1 billion. Thereby increasing the group's overall financial flexibility.
The new facility, which is denominated in EUR, has a term of 1.5 years with an extention option of 1 year. The agreement was reached with a group of core relationship banks.
"We are very pleased with the solid support from our relationship banks to continue our strategy with this additional syndicated loan facility" says Lena Glader, CFO.
The short-term bank facility agreement of EUR 500 million, dated 28 March 2022, has not been utilised and was cancelled on 22 September 2022.
Bankbrokers acted as financial advisor and coordinator, and Mannheimer Swartling Advokatbyrå acted as legal advisors to Storskogen in connection with the transaction.
For more information, please contact:
Lena Glader, CFO
+46 73 988 44 66
Erik Kronqvist, Head of IR
+46 70 697 22 22
This press release contains inside information that Storskogen Group AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the above contact persons on 23 September 2022 at 09.40 CET.
Storskogen acquires and manages well-managed and profitable small and medium-sized enterprises within the business areas Industry, Trade and Services in the Nordic countries, DACH, the United Kingdom, and Singapore. On 30 June 2022, Storskogen consisted of 132 business units with a total of over 12,000 employees and a trailing annual turnover (RTM) of around SEK 36 billion.
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