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28.06.2021 08:40
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Embracer Group AB secures an unsecured multicurrency revolving credit facility of SEK 6.0 billion
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PR Newswire
STOCKHOLM, June 28, 2021
STOCKHOLM, June 28, 2021 /PRNewswire/ -- Embracer Group AB secures an unsecured multicurrency revolving credit facility of SEK 6.0 billion arranged by leading Nordic banks Nordea, SEB and Swedbank. The facility has a tenor of three years which may be extended by up to two years and refinances in total SEK 4.4 billion in facilities with Nordea maturing in July, 2021 and May, 2022.
The terms and conditions for the new facility has been improved, including a lower credit margin for utilized debt. The existing relationships with about a dozen international banks on operating group level will be maintained in addition to the facility. The average borrowing rate across Embracer Group is expected to be well below 1.0 percent going forward.
The facility will be part of Embracer's liquidity reserves and improves the Group's strategic flexibility. Total cash at hand and available credit facilities amounts to approximately SEK 19 billion.
The new facility together with the capacity to issue equity will enable Embracer to accelerate organic growth and to pursue more attractive inorganic growth opportunities.
"We have received strong long-term support from our Nordic relationship banks and are pleased with the terms and conditions of the new facility. With available liquidity of approximately SEK 19 billion earmarked for growth, we look forward to welcoming more great entrepreneurs and creators to the Embracer family", says Lars Wingefors, co-founder and Group CEO of Embracer Group.
For more information, please contact:
Lars Wingefors, Co-founder and Group CEO Embracer Group AB (publ)
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
About Embracer Group:
Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market. The Group has an extensive catalogue of over 240 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency, World War Z and Borderlands, amongst many others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its eight operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment and Easybrain. The Group has 69 internal game development studios and is engaging more than 7,000 employees and contracted employees in more than 40 countries.
Embracer Group's shares are publicly listed on Nasdaq First North Growth Market Stockholm under the ticker EMBRAC B with FNCA Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00 399.
Subscribe to press releases and financial information: https://embracer.com/investors/subscription/
For more information, please visit: https://www.embracer.com
This information was brought to you by Cision http://news.cision.com
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| Embracer Group AB secures an unsecured multicurrency revolving credit facility of SEK 6.0 billion |
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