The credit facility amounts to 3,250 million SEK with the possibility to increase to 3,750 million SEK upon agreement with the lenders. The new agreement will come into effect on July 1, 2024 and will run for three years with the possibility to extend for an additional two years. The financing is linked to Scandic’s overall sustainability strategy and certain objectives.
- Scandic has recovered well from the pandemic and today, we have an ambitious growth plan and a strong financial position. It is therefore gratifying that we’ve now secured a long-term financing that supports this and also entails lower financing costs. The financing can also handle all possible scenarios related to the convertible bond that will mature in October, says Pär Christiansen, Chief Financial Officer at Scandic Hotels Group.
Nordea Bank Abp, filial i Sverige acted as agent and documentation agent. DNB Markets, a part of DNB Bank ASA, Sweden Branch and Nordea Bank Abp, filial i Sverige acted as sustainability coordinators. DNB Sweden AB, Nordea Bank Abp, filial i Sverige and Aktiebolaget Svensk Exportkredit (publ) acted as lenders in the financing.
Tags:Scandic’s overall sustainability strategy, Scandic Hotels Group.
