Capital/Financing Update • Dec 20, 2021
Capital/Financing Update
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Agreement on a new credit facility
Agreement on a new credit facility
Company announcement No. 44
ECIT has agreed on a new credit facility at a total amount of NOK 800 million together with Nordea Bank, consisting of a revolving credit facility of NOK 750 million as well as a leasing facility of NOK 50 million. The new revolving credit facility agreement covers a period of three years with an extension option of one year.
The new facility will replace the existing NOK 525 million credit facility, which consisted of a revolving credit facility of NOK 375 million, an overdraft facility of NOK 100 million and a leasing facility of NOK 50 million.
The new credit facility provides a stable, long-term financing platform that adequately supports the acquisition growth ambitions of ECIT.
The facility has been raised on attractive terms that reflect the improved credit profile of ECIT. The total credit facility is subject to standard clauses, and the revolving credit facility is subject to covenants including the gearing ratio of the Group.
Any questions may be addressed to COO Christine Lundberg Larsen, [email protected], +47 452 11 552
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