Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 20 December 2018, 15:00 HKT/SGT
Share:
    

Source: CLX Communications AB
CLX Communications secures expanded credit facility with improved terms and conditions

STOCKHOLM, SWEDEN, Dec 20, 2018 - (ACN Newswire) - CLX Communications AB, a global leader in cloud communications for customer engagement through mobile technology, today announced that the company's corporate credit facilities have been successfully expanded and extended.

The expanded credit facility grants CLX Communications AB access to SEK 1,500 million in debt financing provided that the company meets a set of pre-defined terms and conditions. This represents an increase in debt funding for M&A of SEK 900 million compared to the company's earlier bank agreements. In addition to the SEK 1,500 million facility, the company has an overdraft facility of SEK 200 million.

The terms and conditions agreed with the lending banks match the company's leverage policy, where the target is that net debt over time shall be below 2.5 times adjusted EBITDA (measured on a rolling twelve month basis). The new credit facility replaces earlier debt financing and is made available by Danske Bank and Handelsbanken. The term to maturity is three years, with possible extension for an additional two years. The new terms also imply a lower interest margin and decreased amortization.

"We are very pleased with our new credit facility. The improved terms acknowledge our company's strong financial standing and will allow further value-accretive M&A to increase our profitability and further strengthen our product offering", says Oscar Werner, Chief Executive Officer of CLX Communications AB.

For further information, please contact

Thomas Heath
Chief Strategy Officer and Head of Investor Relations
CLX Communications AB (publ)
Mobile: +46-722-45 50 55
E-mail: [email protected]

About CLX Communications

CLX Communications (CLX) is a leading global provider of cloud-based communication tools for enterprises and mobile operators. CLX's mobile communication services enable businesses to quickly, securely and cost-effectively reach their customers through mobile messaging, voice and video. The CLX platform powers business-critical communications throughout the world, and the company has grown profitably since its foundation in 2008. The Group is headquartered in Stockholm, Sweden, and has presence in a further 20 countries.

CLX Communications' shares are traded at NASDAQ Stockholm: XSTO: CLX.

Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation. This information was submitted for publication under the auspices of the above contact on 20 December 2018 at 08:00 CET.

201218_Refinancing_ENG: http://hugin.info/173289/R/2229610/875945.pdf

###

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CLX Communications AB (publ) via Globenewswire


Dec 20, 2018 15:00 HKT/SGT
Topic: Press release summary

http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



CLX Communications AB
Mar 4, 2019 20:00 HKT/SGT
Sinch and Ericsson messaging Licensing Agreement delivers new deals
Feb 13, 2019 15:00 HKT/SGT
CLX Communications AB (publ): CLX Communications unifies its business under a shared identity and rebrands as Sinch
Feb 8, 2019 16:00 HKT/SGT
CLX Communications AB (publ): CLX Communications appoints new CMO
Dec 12, 2018 16:00 HKT/SGT
CLX Communications AB (publ): CLX Communications appoints new CFO
July 20, 2018 13:30 HKT/SGT
CLX Communications AB (publ): Interim report, January - June 2018
July 4, 2018 09:00 HKT/SGT
Enterprises embracing Video Calling to drive customer service innovation, finds new research from Sinch
June 21, 2018 08:30 HKT/SGT
CLX Ranked Best Messaging Vendor in North America
Feb 20, 2018 18:00 HKT/SGT
Enterprise CPaaS spend set to quadruple to $6.7bn by 2022, estimates Juniper Research
Feb 20, 2018 09:00 HKT/SGT
CLX Communications & DeviceRadio Partner to Simplify Production & Launch of IoT devices
May 11, 2017 07:00 HKT/SGT
CLX Communications AB (publ): CLX acquires Dialogue Group Ltd.
More news >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: