Brief: Beter Bed Holding Reduces Outstanding Bank Debt By EUR 16.7 Million

Beter Bed Holding NV

20/12/2019 06:20

Dec 20 (Reuters) - BETER BED HOLDING NV  BETR.AS :
    * BETER BED HOLDING AGREED NEW BANK COVENANTS AND DECREASED
OUTSTANDING BANK DEBT WITH EUR 16.7 MILLION
    * BETER BED HOLDING WILL INITIATE A PROCESS TO REFINANCE
BANK
FACILITIES AS WELL AS EUR 7 MILLION SHAREHOLDERS' LOAN
    * FOLLOWING COMPLETION OF ABOVE-MENTIONED TRANSACTIONS,
BETER BED
HOLDING HAS MADE A REPAYMENT ON ITS OUTSTANDING BANK DEBT OF IN
TOTAL EUR 16.7 MILLION
    * AS A RESULT, TOTAL BANK DEBT FACILITIES AFTER THIS
REPAYMENT
WILL BE EUR 23.3 MILLION
    * BETER BED HOLDING HAS AGREED NEW FINANCIAL COVENANTS WITH
ITS
FINANCING BANKS
    * SALE-AND-LEASEBACK TRANSACTIONS FOR ITS LOGISTIC
PROPERTIES IN
UDEN, HOOGEVEEN AND NIEUW-VENNEP FOR A TOTAL CASH CONSIDERATION
OF EUR 19.1 MILLION
    * EXPECTS TO REMAIN WELL WITHIN AGREED FINANCIAL COVENANTS
WITH AN
ANTICIPATED TOTAL SENIOR DEBT TO A NORMALIZED EBITDA RATIO PER
DEC-END OF LESS THAN 1.5X
    * AIMS TO REFINANCE BETER BED HOLDING ULTIMATELY BY END OF
CURRENT
FINANCING AGREEMENTS IN JULY 2020

Source text for Eikon:  ID:nGNE7pXDvF 
Further company coverage:  BETR.AS 

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