Kindred Group refinances its borrowings with new €216m revolving credit facility
Kindred Group has signed a new EUR 216.7 million multi-currency revolving credit facility agreement with two Nordic banks.
The new credit facility has an uncommitted accordion feature that permits, under certain conditions, an increase in total commitments up to EUR 325 million. The facility is committed for a tenor of three years, with a one-year extension option.
The loan proceeds will be used to refinance the amounts outstanding under Kindred’s existing facilities agreement and for the Company’s general corporate purposes. The new facility will increase Kindred’s financial flexibility and support Kindred’s growth initiatives and long-term strategy.