Multiconsult ASA (Oslo: Multi) has today successfully refinanced its existing
Revolving Credit Facility (RCF) of NOK 800 million. The company has secured a
new and expanded NOK 2.1 billion RCF with Nordea Bank Abp, including an
uncommitted accordion option of NOK 1 billion. In addition, the credit facility
linked to the group's global cash pool has been increased from NOK 320 million
to NOK 400 million. This brings the total available credit facilities, including
the accordion option, to NOK 2.5 billion, an increase from the previous NOK 1.12
billion.
The facilities will be used for general corporate purposes, acquisitions and
working capital, while also strengthening the group's liquidity reserve. The
refinancing underscores Multiconsult's strong financial position and continued
access to attractive bank financing and supports both the group strategy and a
continued strong liquidity position. The intention is to transition the new
facilities into a sustainability-linked loan.
Key highlights and financial covenants:
Multiconsult secured financing at attractive terms, linked to a margin grid
based on leverage ratio. The RCF has a three-year maturity and expires on 30
June 2028.
Leverage ratio (NIBD/EBITDA R12M): Not to exceed 3.50x, and not to exceed 3.00x
for 18 consecutive months.
Equity ratio: Minimum 20 per cent at all times, and above 25 per cent for 18
consecutive months.
Measurement shall take place quarterly and exclude IFRS 16 effects.
Negative pledge: Applies to both Multiconsult ASA and Multiconsult Norge AS,
restricting new secured debt without prior bank consent.
"This refinancing strengthens our financial flexibility and supports our
strategy. The increased facility and improved terms reflect the confidence our
main relationship bank have in Multiconsult's performance and supports our
capital structure," said Ove B. Haupberg, CFO, Multiconsult ASA.
For further information, please contact:
Investor relations:
Pål-Sverre Jørgensen, Group Treasurer & IRO
Phone: +47 416 11 161
E-mail: ir@multiconsult.no / psmj@multiconsult.no
Media:
Cato A. Mørk, Senior Communication Advisor
Phone: +47 924 55 663
E-mail: caam@multiconsult.no