Business
Ovzon completes facilities agreement for refinancing with Danske Bank
Ovzon completes facilities agreement for refinancing with Danske
About this update from Ovzon Ab
As previously communicated, Ovzon AB (publ) has signed a facilities agreement with Danske Bank for a term loan and a revolving credit facility to refinance existing loan, which significantly will reduce interest expenses and secure basic financing for future growth. The transaction has now been fully completed. The facilities agreement, which comprises a term loan of 300 MSEK and a revolving credit facility of 300 MSEK, has a tenor of two years with the option of a one-year extension. The interest rate is 3-month STIBOR + 220-290 basis points in accordance with a margin ratchet. With the new loan, previous loan carrying significantly higher interest rate is being repaid. For further information, please contact: Per Norén, CEO, [email protected], +46 73 070 56 47 André Löfgren, CFO, [email protected], +46 70 251 70 90 About Ovzon Ovzon offers world-leading integrated mobile satellite communications services, SATCOM -as-a-Service, to customers globally. The services combine high throughput satellite networks, mobile satellite terminals, gateway services, and dedicated customer support. Ovzon 's offerings meet the growing demand for mission critical connectivity for customers with high performance, mobility and resiliency requirements such as Defense, National security and Public safety. On July 5, 2024 , commercial service commenced on Ovzon’s proprietary developed geostationary satellite Ovzon 3. Ovzon has offices in Stockholm, Sweden as well as Herndon, VA and Tampa, FL in the USA . Ovzon is listed on Nasdaq Stockholm Small Cap. For more information, visit www.ovzon.com. Attachments Ovzon completes facilities agreement for refinancing with Danske Bank © Modular Finance, source Nordic Press Releases