On 23 December 2016, Ambea entered into a loan agreement with Danske Bank A/S, Denmark (Sweden Branch) and DNB Bank ASA, Sweden Branch.
According to the agreement, the financial institutions have agreed to provide certain credit facilities to Ambea upon a listing on the stock exchange, to provide capital for the refinancing of current loans held by Ambea and ensure funding for Ambea’s running financing costs.
The credit facilities carry an annual interest rate corresponding to the relevant IBOR plus a variable marginal rate based on Ambea’s net debt in relation to EBITDA. In addition, Ambea is obligated to pay a handling fee in connection with the establishment of the credit facility; a commitment fee at the end of each quarter on any unused capacity provided through the credit framework; regular fees charged by the facility agent; and, when required, a fee for extension of the credit facility period.
The credit facilities are provided on the condition that Ambea fulfills certain market-based financial requirements, including certain key financial indicators such as net debt/EBITDA, which are not permitted to deviate negatively from the levels specified in the agreement.
Ambea strives to achieve the lowest possible financing cost.
Overview of Ambea’s credit facilities: