MTG secures new SEK 1 billion unsecured revolving credit facility

Modern Times Group MTG AB (publ) (“MTG”) today announced that it has secured a new SEK 1 billion unsecured revolving credit facility with a 2-year tenor, with an option to extend for an additional year. The facility has been secured from DNB Bank, Nordea and Swedbank. The new facility replaces MTG’s previous SEK 1 billion, 2+1 year revolving credit facility, which was signed in July 2021 in conjunction with the acquisition of PlaySimple.

MTG has a strong balance sheet and had a SEK 3.3 billion net cash position as per 31 March 2024. The group’s strong cash flows ensure that MTG retains a high level of financial flexibility, and the new facility has been raised to support our operational and strategic needs if, and when, required. MTG generated SEK 911 million in free cash flow in 2023. The group has therefore not utilized its previous revolving credit facility since April 2022.

The lending banks for the revolving credit facility are DNB Bank ASA, Sweden Branch; Nordea Abp filial i Sverige and Swedbank AB (publ).