Brief: Intrum Enters Into Lock-Up Agreement With Majority Of Its RCF Lenders

Intrum AB

16/08/2024 06:13

Aug 16 (Reuters) - Intrum AB  INTRUM.ST :
    * INTRUM ENTERS INTO LOCK-UP AGREEMENT WITH MAJORITY OF ITS
RCF
LENDERS CONTINUING SIGNIFICANT PROGRESS TOWARDS RECAPITALISATION
    * BINDING AGREEMENT WITH REVOLVING CREDIT FACILITY LENDERS
WHO
HOLD APPROXIMATELY 75.6% OF DEBT
    * AGREEMENT SUPPORTS AMENDMENT AND EXTENSION OF RCF IN
CONTEXT OF
RECAPITALIZATION TRANSACTION PREV ANNOUNCED BY INTRUM ON 11 JULY
2024
    * EXTENSION OF TERM OF RCF TO 30 JUNE 2028
    * REDUCTION OF OVERALL RCF AMOUNT FROM EUR 1.8BN TO EUR
1.1BN
    * REVISED MARGIN RATCHET OF BETWEEN 3.75% TO 2.55% BASED ON
NET
LEVERAGE RATIO
    * UPFRONT FEE OF 3.93125% PAYABLE IN CASH ON RESTRUCTURING
EFFECTIVE DATE

Source text for Eikon:  ID:nMFN3VgGYs 
Further company coverage:  INTRUM.ST 

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