Projektengagemang Sweden AB (publ) SEK 381,000,000 Term Facilities and SEK 100,000,000 Revolving Credit Facility
On 2018-11-27 Projektengagemang Sweden AB (publ) (“Projektengagemang”) announced the acquisition of the civil engineering specialist Integra Engineering AB (“Integra”) and its subsidiaries.
Projektengagemang has secured committed bank financing of SEK 125,000,000 (“Acquisition facility”) for the acquisition from Skandinaviska Enskilda Banken AB (“SEB”). The acquisition financing consists of (i) a SEK 125,000,000 term loan facility with a tenor of three years from the closing and ii) SEK 125,000,000 in own cash.
In addition to the Acquisition Facility, Projektengagemang has been provided with a three-year SEK 100,000,000 term loan facility for the purpose of financing potential future acquisitions. Furthermore, SEB has refinanced the existing SEK 100,000,000 Revolving Credit Facility and the SEK 156,000,000 term loan facility for three additional years. Covenants included in this agreement is regular covenants relating to leverage (ND/EBITDA) and solidity.
No further information regarding the financing will be released at this point. For more information regarding the acquisition read here www.projektengagemang.se/en/ir/pressreleases.
For further information visit the Company website www.pe.se or contact:
Peter Sandberg, CFO
Mobile: +46 10-516 03 67
Email: peter.sandberg@pe.se
Arvid Linder, PR & Press Officer
Mobile: +46 70 779 58 98
Email: arvid.linder@pe.se
THIS INFORMATION IS SUCH INFORMATION THAT PROJEKTENGAGEMANG SWEDEN AB (PUBL) IS OBLIGED TO DISCLOSE UNDER THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SUBMITTED THROUGH THE PROVISION OF THE ABOVE-MENTIONED CONTACTS FOR PUBLICATION ON 27 NOVEMBER 2018 AT 10:30 CET.