Hexatronic refinances revolvers with SEK 500 million term loan

By Marisa Wong

Los Angeles, Nov. 13 – Hexatronic Group AB (publ) has entered into a new senior term loan facility agreement of SEK 500 million with its existing lenders Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ) and AB Svensk Exportkredit, according to a press release.

Hexatronic said the purpose of the term loan is to refinance SEK 500 million borrowed under its current revolving credit facilities, which gives it greater financial flexibility. The term loan is a new facility in the existing agreement and subject to the same credit documentation and covenants.

Because the term loan will be used to refinance the existing revolving credit facilities, there is no impact on the company’s net debt or leverage ratio. By the end of the third quarter, the leverage ratio amounted to 1.8x.

The fiber communication technology company is based in Gothenburg, Sweden.

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