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Raketech, a leading online affiliate and content marketing company, continues to optimise its capital structure and has today entered into an agreement with Swedbank for a revolving credit facility of EUR 10 million. With the new facility, Raketech secures a favourable bank funding and a long-term partner for future acquisitions, in line with the ambitions presented in connection with the IPO.
Since the IPO in June, Raketech has amortised the majority of its previous borrowings. Within the framework of the new credit facility with Swedbank, Raketech’s interest expense on the utilised amount is decreased by more than 50 percent. Thanks to the company’s strong financial position and the attractive financing, Raketech can continue to grow through value accretive acquisitions.
Andreas Kovacs, CFO of Raketech, commented: “During autumn, we assessed different types of financing solutions and have now come to an agreement with Swedbank on favourable terms, which gives us the strength that is needed to continue consolidating the European affiliate market. The agreement also gives us a new level of flexibility, as we can optimise our leverage through the possibility to settle utilised amounts when we have excess liquidity. This means that we can keep financial costs low in times that are not as M&A intense. We see good opportunities to conduct additional acquisitions in accordance with our M&A strategy during 2019.”
For more information, please contact Andreas Kovacs, CFO: [email protected].
This information is such that Raketech Group Holding P.L.C. is required to publish under the EU Market Abuse Regulation. The information was submitted under the auspices of the above contact person for publication at 17.00 p.m. CET on 20 December 2018.
Source: Latest News on European Gaming Media Network
