Kindred utilises the one-year extension option of the revolving facility agreement previously signed in November 2021 and thereby extends the existing financing until November 2025. The total committed facilities will also be increased by EUR 40 million by utilising the accordion feature and at the same time the group of lenders will be broadened.
Latest Fintech News: EvaBank Taps Lokyata’s AI Platform To Automate Loan Decisioning, Provide Greater Access To Credit To More Borrowers
In November 2021, Kindred Group plc (Kindred) signed a EUR 216.7 million multi-currency revolving credit facility agreement with two Nordic Banks. The agreement also included an uncommitted accordion feature of EUR 108.3 million that permits to increase the total commitments up to EUR 325 million. The facility was committed for a period of three years, with a one-year extension option.
Latest Fintech News: Trace Labs Will Help Make Global Economy Work Sustainably With OriginTrail Version 6
Kindred now utilises the extension option to secure the existing financing until November 2025. At the same time the banking group will be broadened with a third international bank and EUR 40 million of the accordion feature will be utilised. The total committed facilities thereby increase to EUR 256.7 million, with a continued possibility to, under certain conditions, increase the total commitments up to EUR 325 million.
This further increases Kindred’s financial flexibility and supports Kindred’s growth initiatives and long-term strategy.
Latest Fintech News: Carofin Completes $2 Million Equity Financing for TxtSmarter
[To share your insights with us, please write to sghosh@martechseries.com]
