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Intellego reaches refinancing deal with the largest commercial bank in the Nordics, Nordea

On the 19th of September Intellego communicated that it was in the final stages of a refinancing deal with one of the largest commercial banks in the Nordic. Intellego Technologies is glad to now present that the company has been granted a three-year term loan of SEK 30 million to refinance existing debt. Lender is the largest commercial bank in the Nordic, Nordea, and the loan is guaranteed by the Swedish Export Credit Agency’s (EKN) credit guarantee. In addition, Intellego Technologies has secured a working capital credit facility amounting to SEK 10 million also from Nordea, backed by the Swedish Export Credit Agency (EKN). The funding will support Intellego’s growth initiatives and reduce the company’s funding costs.

In addition to the loan part, Intellego will now also have access to an extended amount of services e. g. factoring and to credit secure international receivables. Intellego can therefore apply to unlock up to 100 million SEK in liquidity on a short notice, if the company would chose to use that service.
 
- This loan refinancing and credit facility together with Intellego’s improving cashflow will set the foundation for Intellego continued expansion and is a testament to the stability and growth of Intellego’s business. After a rigorous process that started about a year ago, we are now incredibly happy and proud that EKN and Nordea have chosen to support Intellego on its journey ahead. Furthermore, Intellego will now have an expanded possibility to credit secure its international receivables which further will strengthen the position of Intellego, says Claes Lindahl, CEO and founder of Intellego Technologies.
 
The term loan amounts to SEK 30 million with a tenor of three years. The credit facility of SEK 10 million is a revolving facility renewed on an annual basis.

Contacts

For further information, please contact:
Claes Lindahl, CEO Intellego Technologies AB
E-mail: claes.lindahl@intellego-technologies.com
Phone: +46 735 344 634

About Us

Intellego Technologies develops and manufactures color indicators that show the effect of irradiation with, among other things, invisible ultraviolet light, UV light. Color indicators are used globally in, for example, the disinfection industry, the sunscreen industry, and the manufacturing industry. Intellego's indicators have been developed from the company's patented photochromic ink, which can be adapted to different wavelengths of light and various application areas across a range of different industries. Intellego Technologies was founded in 2011, is headquartered in Stockholm, and is listed on the Nasdaq First North Growth Market.
The company's Certified Adviser on the Nasdaq First North Growth Market Stockholm is Carnegie Investment Bank AB (publ).

Intellego's website: https://intellego-technologies.com/en/

Subscribe to Intellego's press releases: https://intellego-technologies.com/sv/pressmeddelanden/

Contact the communications team: communications@intellego-technologies.com

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Intellego reaches refinancing deal with the largest commercial bank in the Nordics, Nordea

Datum 2024-10-07, kl 15:30
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Intellego reaches refinancing deal with the largest commercial bank in the Nordics, Nordea
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