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Scandic Hotels Group AB: Scandic secures new long-term financing framework
Scandic has secured a new long-term financing framework totalling SEK 7.5 billion. The financing supports Scandic's continued growth strategy, including the planned acquisition of Dalata Hotel Group, while further strengthening the Group's financial flexibility.
The new financing agreement came into effect on July 2 and has a term of three years, with the option to extend it for an additional two years.
"Scandic has a strong financial position and a clear growth strategy. This new long-term financing framework provides significant flexibility to support our continued expansion, including the planned acquisition of Dalata. We are also pleased to further strengthen our banking group with additional relationship banks that combine broad international reach with strong local expertise across Scandic's markets," says Pär Christiansen, Chief Financial Officer at Scandic Hotels Group.
The financing has been arranged by DNB and Nordea Bank Abp, filial i Sverige, who acted as Coordinating Bookrunners and Mandated Lead Arrangers. Nordea Bank Abp, filial i Sverige also acted as Documentation Agent and Facility Agent. The financing is provided by a syndicate of relationship banks comprising DNB, Nordea Bank Abp, filial i Sverige, Allied Irish Banks PLC (AIB), Barclays Bank Ireland PLC, Natwest Bank Plc, Swedbank AB (publ) and Swedish Export Credit Corporation.
For more information, please contact:
Rasmus Blomqvist, Director Investor Relations, Scandic Hotels Group
Email: rasmus.blomqvist@scandichotels.com
Phone: +46 702 335 367
Pär Christiansen, Chief Financial Officer, Scandic Hotels Group
Email: par.christiansen@scandichotels.com
Phone: +46 761 802 663
About Scandic Hotels Group
Scandic is the largest hotel company in the Nordic countries with a network of about 320 hotels with 68,000 rooms in operation and under development, in more than 150 destinations. The company is the leader when it comes to integrating sustainability in all operations and its award-winning Design for All concept ensures that Scandic hotels are accessible to everyone. Well loved by guests and employees, the Scandic Friends loyalty program is the largest in the Nordic hotel industry and the company is one of the most attractive employers in the region. Scandic is listed on Nasdaq Stockholm. www.scandichotelsgroup.com