Hexicon has entered into an agreement for a credit facility of up to Skr75m (€6.5m) with disbursements of Skr10m at a time.
The facility is intended to cover Hexicon’s working capital needs and enable the company to divest projects at the best possible time and terms.
The main financier is Wallstreet Aktiebolag, a company within the Wallenius Group, along with a few private investors.
Hexicon has the option to utilise the credit within a 12-month period, with a minimum withdrawal of Skr10m. Until the company’s outstanding convertible loans are fully repaid, a maximum of Skr10m of the facility can be utilised.
With the facility, the company’s liquidity is secured the coming year up until the summer 2024.
The credit facility is concluded at market terms. Repayment of the loan, along with accrued interest, is due no later than July 12, 2024.
“We are pleased to have secured financing that allows us to remain flexible in terms of the timing of project divestments, thereby optimising the value creation in our portfolio. With this credit facility, we can ensure that we have liquidity in the Company to cover non-project-related expenses, and together with the Glennmont agreement, we can continue to accelerate our efforts to achieve our growth objectives,” commented Hexicon chief executive Marcus Thor.