Company announcement|4.5.2021

Enersense concludes negotiations on a new financing package

EnersenseInternational Plc
Company bulletin, 4May 2021 at 10.30am

A provider of zero-emission energy solutions, Enersense International Plc has concluded the negotiations on the financing its operations. The company’s new financing package consists of two senior loans and several bank guarantee and invoice financing facilities. The financing is used for developing operations and managing working capital (“New Financing”). The senior loans and bank guarantee facilities made available as a part of the New Financing will be at Enersense’s disposal, provided certain customary conditions precedents for utilisation have been fulfilled.

As part of the New Financing, the company will replace the existing EUR 12.7 million short-term financing facilities with two senior loans, totalling EUR 12 million. Each senior loan amounts to EUR 6 million and will mature in 2026.

In addition, Enersense replaces a part of its previous bank guarantee facilities with the new bank guarantee facilities negotiated as a part of the New Financing. Enersense has bank guarantee facilities totalling EUR 36.9 million. The total amount of the new bank guarantee facilities negotiated as part of the New Financing is EUR 20 million.

The company also has invoice financing facilities totalling EUR 41.5 million. The new facilities account for EUR27million of the total.

“We are pleased to have new partners to support the development of our business. The increase in financing facilities used to support the business operations indicates that we have succeeded excellently in increasing our sales,” says Jussi Holopainen, CEO of Enersense.

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