ZetaDisplay has signed a new financing agreement which reduces the average interest rate to approximately 2.0 % and releases SEK 53 million in liquidity. At the end of the third quarter 2017, the corresponding average interest rate was approximately 6.0 %. As ofOctober 31, 2017, the Company will have cash balances of approximately SEK 75 million (as well as an undrawn overdraft facility of SEK 15 million).
ZetaDisplay has entered into an agreement with a Nordic bank regarding the refinancing of loans representing most of the group’s total interest-bearing debt. The new agreement involves loans totalling SEK 120 million.
Leif Liljebrunn, CEO of ZetaDisplay AB (publ) said ‟Through the new financing agreement, we are reducing our financing expenses significantly, while at the same time increasing our credit headroom. This increases our financial flexibility since we are releasing liquidity which we can use either in value-creating investments in existing operations or for new acquisitions, or a combination of the two”.
ZetaDisplay has more than 130 employees and sales offices in Sweden, Denmark, Norway, Finland, Estonia and Holland.