The Board of Directors in Mintra Holding AS have approved a new credit facility with Nordea Bank on the 8th February 2023.
The agreement implies the following new debt structure:
Term loan A, mNOK 120, straight line 5 year amortization
Term loan B, mNOK 120, 5 year bullet
RCF facility, mNOK 30, annual clean down
Significant covenants are:
Maximum NIBD/ EBITDA leverage.
Initial restriction on 3.8x being reduced to 2.5x during the lifespan of the agreement.
Tjaldur Holdco together with Ferd to hold a minimum of 1/3 the total number of shares in Mintra Holding AS.
Proceeds from the facility may be allocated to
repayment of the current financial debt to Nordea
distribution of dividend
general business and corporate purposes
The facility is NOK based, has competitive interest margin depending on leverage. Base rate set on relevant IBOR.
For further information please contact:
Kevin Short, CEO, tel: +44 1224 651340
email: kevin.short@mintra.com
Jostein Hufthammer, CFO, tel: +47 488 94 940
email: jostein.hufthammer@mintra.com
Triin Barrow, Investor Relations, tel: +44 1224 052164
email: triin.barrow@mintra.com
About Mintra
Mintra Holding AS is a technology company which has been shaping the eLearning industry for more than 30 years. By taking pride in supporting more than 3,600 companies develop and deploy their people to meet competency and training requirements, Mintra has solidified its position as a preferred partner in the eLearning and human capital management solutions markets. Mintra is focused on clients with workforces operating in safety-critical industries such as energy and maritime where regulatory training is mandatory and needs to be refreshed and assessed on a frequent basis.