Ovzon AB (publ) has entered into a facilities agreement with Danske Bank for a term loan and a revolving credit facility to refinance existing loan, which will reduce interest expenses and secure financing for future growth.
The facilities agreement, which comprises a term loan of 300 MSEK and a revolving credit facility of 300 MSEK, has a tenor of two years with the option of a one-year extension. The interest rate is 3-month STIBOR + 220-290 basis points in accordance with a margin ratchet.
The transaction is expected to be completed during the third quarter of 2025, provided that the usual conditions are met.
"We appreciate the trust and foresight of our new banking partner and would also like to take the opportunity to thank P Capital Partners for enabling the development and launch of our first proprietary satellite, Ovzon 3. Ovzon's strong order intake, solid financial performance, and market outlook have made this refinancing possible. Upon full utilization of the new facilities and repayment of existing loan, interest expenses are estimated to be reduced by approximately 70 MSEK annually," says André Löfgren, CFO at Ovzon.
For further information, please contact:
Per Norén, CEO, pno@ovzon.com, +46 73 070 56 47
André Löfgren, CFO, alo@ovzon.com, +46 70 251 70 90
About Ovzon
Ovzon offers world-leading integrated mobile satellite communications services, SATCOM-as-a-Service, to customers globally. The services combine high throughput satellite networks, mobile satellite terminals, gateway services, and dedicated customer support. Ovzon's offerings meet the growing demand for mission critical connectivity for customers with high performance, mobility and resiliency requirements such as Defense, National security and Public safety. On July 5, 2024, commercial service commenced on Ovzon's proprietary developed geostationary satellite Ovzon 3. Ovzon has offices in Stockholm, Sweden as well as Herndon, VA and Tampa, FL in the USA. Ovzon is listed on Nasdaq Stockholm Small Cap. For more information, visit www.ovzon.com.
This information is information that Ovzon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-09-02 08:00 CEST.
