Investment AB Kinnevik today announced that it has signed a new three year credit facility agreement with extension options for another two years.
The SEK 5.3 bln facility, which is self-arranged, is a revolver and has been provided by a group of 6 banks - DnB Bank ASA, Sweden Branch, Nordea Bank AB (publ), Handelsbanken Capital Markets, Svenska Handelsbanken AB (publ) and Swedbank AB (publ) as Mandated Lead Arrangers and Crédit Agricole Corporate and Investment Bank and Merchant Banking, Skandinaviska Enskilda Banken AB (publ) as Arrangers. Nordea Bank AB (publ) is acting as Facility and Security Agent.
The new credit facility is secured by listed shares, but without any financial covenants. It will replace all the bilateral credit facilities with listed shares as security, totalling SEK 4.95 bln, when closed in beginning of January 2012.
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director Investor Relations||+46 (0)8 562 000 83|
|+46 (0)70 762 00 83|
Kinnevik was founded in 1936 and thus embodies more than seventy years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around seven comprehensive business sectors; Paper & Packaging, Telecom & Services, Media, Online, Micro financing, Agriculture and Renewable energy. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
The Kinnevik's class A and class B shares are listed on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.