As indicated in its press release of 17 August 2016, Cloetta AB (publ) completed the early redemption of its outstanding SEK1,000 million Senior Secured Notes (the “Bonds”) on 19 September 2016, as part of the previously communicated overall refinancing of its existing debt financing.
The new financing structure will secure Cloetta’s ability to pay dividends in the future and will at the same time provide financial flexibility for potential complementary acquisitions.
In July, 2016, Cloetta entered into a new term and revolving facilities agreement with a group of four banks, amounting in total to the equivalent of SEK 3,700m. The new financing package included a loan of SEK 1,000m which has been used to redeem the Bonds issued in September 2013.
The Facilities Agreement, along with the redemption of the Bonds, is expected, excluding one off expenses, to reduce the group’s net financial items by approximately SEK 140m over a five year period, whereof SEK 50m in 2017
Jacob Broberg, SVP Corporate Communications & Investor Relations, 46 70 190 00 33.