Raketech secures €15m credit facility to finance future M&A activity
Loan provided by Stockholm-based Avida Finans will replace existing €10m agreement with Swedbank
Raketech has secured a credit facility of €15m to inspire further growth through acquisitions.
The affiliate has signed a one-year revolving credit facility with Stockholm-based loans provider Avida Finans AB.
The credit injection will allow the company to continue to grow through strategic M&A and can also be used for the financing of working capital and other general corporate purposes.
Interest on the facility is 4.25% plus an annual commitment fee paid upfront. The facility will replace the affiliate’s existing credit facility of €10m with Swedbank.
Raketech CEO Oskar Mühlbach said: “We are delighted to enter into this new relationship with Avida Finans and take advantage of the strong debt markets to strengthen our financial flexibility.
“The new agreement offers beneficial terms and enables us to keep a high pace in our M&A activities to propel our group growth on strategically important markets,” he added.
The credit facility includes an extension option and can be renewed annually, while Raketech will continue to evaluate further long-term financing opportunities.
Raketech last week concluded a €16m deal to acquire US-headquartered sports media affiliate firm P&P Vegas Group.