On 10 December 2018, Ambea entered into a supplementary agreement related to the existing loan agreement with Danske Bank A/S, Denmark (Sweden Branch), DNB Bank ASA (Sweden Branch) and Nordea Bank AB (publ). The existing agreement was originally entered into in Mars 2017.

According to the agreement, the financial institutions have agreed to provide certain credit facilities to Ambea in connection to the acquisition of Aleris Care, to provide capital for the acquisition and 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.

Credit facilities

Overview of Ambea’s credit facilities:

Type Currency Amount (000) Due date
Revolving credit facility, multiple currencies SEK (or equivalent) 4,500,000 21 January 2022 (with possibility to extend by 1+1 year)
Bridge loan facility SEK 1,200,000 21 October 2019 (with possibility to extend by 3+3 months)