Truecaller AB ("Truecaller" or "the Company") today entered an SEK 850 million term loan facility with Skandinaviska Enskilda Banken AB ("SEB"). The purpose of the facility is to ensure a continued strong cash position, while at the same time manage the previously communicated transfer pricing audit in India, pursue the buyback-program and to continue to explore M&A opportunities.
As part of the same agreement, Truecaller's existing SEK 500 million revolving credit facility ("RCF") with SEB - established primarily to fund potential M&A opportunities and which to date has been undrawn - has been extended to 2028 with an option of extending it another two years, underlining Truecaller's continued financial flexibility to pursue strategic growth opportunities.
Truecaller enters into this agreement from a position of financial strength. As of 30th of June 2026, the Group held approximately SEK 853 million in cash and short-term investments, in addition to the undrawn SEK 500 million RCF. Truecallers Board has authorization from the AGM to repurchase up to 10% of the outstanding shares and as of today holds approximately 4.1% of the outstanding shares.
"SEB's willingness to extend this financing, on attractive terms and alongside an extension of our RCF, reflects the confidence our long-standing banking partner has in Truecaller's underlying business and cash flow generation," said Odd Bolin, CFO at Truecaller.
As previously communicated, Truecallers Indian operations are subject to a transfer pricing survey by the Indian tax authorities for the fiscal years 2018-2023. The Company currently expects to receive so-called formal assessment orders based on the tax audit from the Indian tax authorities during the first half of 2027, although this timeline could extend as late as the first quarter of 2028. When such assessment orders are issued, Indian tax authorities will typically require a bank guarantee to be posted for the assessed amount while the matter remains under dispute and pending resolution. The assessed amount could be materially higher than the final additional tax payments, if any, that will be decided during the bilateral process initiated by the company to resolve this issue. Truecaller's stance is like previously communicated that its transfer pricing model has correctly allocated revenues between its Swedish and Indian operations and intends to challenge any assessment orders it receives. In parallel, the Company has invoked a bilateral process between the competent tax authorities of India and Sweden, through which management believes the matter will ultimately be resolved.
For more information, please contact:
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com
This information is information that Truecaller 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 person set out above, at 8.15 pm CET on 16th of July.
About Truecaller:
Truecaller (TRUE B) is the leading global platform for safe and trusted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 500 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information please visit corporate.truecaller.com
