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.
