ADDvise Group AB (publ) has entered into a new secured facilities agreement with Nordea Bank Abp, filial i Sverige, with a total limit of SEK 450 million. As previously communicated, the company will on 28 May 2025 also issue new senior unsecured bonds of SEK 800 million with a floating interest rate of 3 months STIBOR plus 3.50 per cent. per annum. As previously communicated, the company intends to use the net proceeds from the bond issue as well as part of loan under the facilities agreement to refinance the company's outstanding senior secured bonds in SEK and USD.
With the support of the facilities agreement and the refinancing of the outstanding secured bonds in SEK and USD, the group's annual interest expense is expected to decrease by approximately SEK 56 million - from approximately SEK 131 million to approximately SEK 75 million - based on current STIBOR and SOFR levels. At the same time, the group's gross debt is reduced by SEK 550 million. One-off costs related to the early redemption of outstanding secured bonds amount to approximately SEK 53 million and will impact the results in the second quarter of 2025.
"The new capital structure improves our cash flow, reduces our financial costs, and creates favorable conditions for continued acquisition-driven growth. We are very grateful for the strong confidence shown by our shareholders, bond investors, and Nordea," says Staffan Torstensson, CEO.
For further information, please contact:
Staffan Torstensson, CEO
+46 70 433 20 19
staffan.torstensson@addvisegroup.se
Johan Irwe, CFO
+46 73 731 26 11
johan.irwe@addvisegroup.se
About ADDvise Group
ADDvise is an international life science group. Operating a decentralised ownership model, we develop and acquire high quality companies within the business areas Lab and Healthcare. The Group comprises more than 20 companies and generates annual revenues of close to SEK 1.7 billion. ADDvise is listed on Nasdaq First North Premier Growth Market. Mangold Fondkommission AB, +46 8 503 015 50, CA@mangold.se, is the company's Certified Adviser. More information is available at www.addvisegroup.com.
