Modern Times Group MTG AB (publ) and its subsidiary Nordic Entertainment Group AB (NENT Group) have jointly agreed a SEK 4 billion five year revolving credit facility with a group of six Nordic banks.
The facility replaces MTG’s existing SEK 4 billion facility, which matures in December 2018, and will provide back-up funding for MTG’s SEK 3 billion commercial paper program and other short-term financing. The facility will serve as an initial source of funding for NENT Group when the company is listed separately on Nasdaq Stockholm prior to the intended issue of new commercial paper and bonds.
The facility has been arranged by Nordea and SEB and is based on the same terms and conditions, including financial covenants, as the existing facility.
NOTES TO EDITORS
MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video content and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
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