The Delete Group’s committed revolving credit facility (RCF) with Nordea Bank Abp (the “Nordea RCF“) has been extended until 15 February 2021 with the following changes to the committed amounts:
- EUR 12,000,000 from 16 December 2020 to and including 31 December 2020;
- EUR 9,000,000 from 1 January 2021 to and including 15 January 2021; and
- EUR 7,000,000 from 16 January 2021 to and including 15 February 2021.
The committed RCF amount was immediately prior to the agreed changes EUR 15,000,00 and the maturity date was 31 December 2020.
Delete Group Oyj announced on 16 December 2020 that it has initiated certain restructuring measures. As part of such restructuring measures and in order to secure that the Delete Group will have access to sufficient working capital in the future, the Delete Group intends to replace the Nordea RCF with one or more new super senior RCFs with total aggregate commitments of no less than EUR 10,000,000. The extension of the maturity date of the Nordea RCF will ensure that the Delete Group will have sufficient time to agree and negotiate the replacement RCFs.
For more information:
Ville Mannola, CFO
phone: +358 400 357 767
DELETE GROUP IN BRIEF
Delete Group is one of the leading environmental service providers in the Nordics. The group offers business-critical client services, which require specialist competences and specialized equipment through three business areas: Industrial Cleaning Services, Recycling Services and Demolition Services (announced to be sold in January 2021).
The Group is headquartered in Helsinki and employs approximately 700 professionals at over 35 locations in Finland and Sweden after the divestment of Demolition Services.