The loan, which maintains its original maturity date of May 2031, now carries an interest rate of Euribor+4.25%, down from Euribor+5.00%, reducing financing costs by 75 basis points1. This favorable repricing will generate substantial annual interest savings for the company, with the financial benefits impacting results in FY25. The transaction was heavily oversubscribed, with demand significantly exceeding available allocation, reflecting strong investor confidence in Advania's business model and financial performance.
In conjunction with this refinancing, Advania is also repricing its Direct Lending tranches in GBP, SEK, and NOK currencies. The company's corporate ratings remain unchanged at B3 / B / B (Moody's / S&P / Fitch).
"This successful repricing is a testament to Advania's strong operational performance and the trust we've built in the financial markets," said Henrik Schibler, CFO of Advania. "By optimizing our capital structure and reducing our financing costs, we're enhancing our ability to invest in innovative solutions and strategic growth initiatives. This transaction gives us additional flexibility to continue our journey of creating sustainable value for our clients and shareholders."
J.P. Morgan, Goldman Sachs, and KKR acted jointly on the transaction, leveraging their strong relationships with existing lenders while also tapping into new money demand to achieve optimal terms.
About Advania
Advania is an end-to-end provider of IT solutions targeting the Northern European mid-market segment, operating across Sweden, the UK, Norway, Iceland, Finland and Denmark. Serving more than 9,000 customers in the public and private sectors, Advania provides a wide range of IT services, platforms, cloud solutions and support. The company is shaping the IT landscape through long-term relationships, leading technologies, and strategic partnerships, with a purpose to empower people to create sustainable value with technology.
As the tech company with people at heart, Advania offers tailored solutions that span the entire IT lifecycle – from infrastructure and operational support to innovation and digital transformation. The company's customer-centric approach empowers teams closest to clients to make decisions, providing adaptive and meaningful support.
With over 5,500 employees, Advania is backed by funds managed by Goldman Sachs Alternatives. For the fiscal year 2024, Advania generated Pro-Forma Net Sales of SEK 18.4 billion (€1.6 billion).
1 Euribor: Euro Interbank Offered Rate - a daily reference rate based on the average interest rates at which Eurozone banks lend unsecured funds to other banks in the euro wholesale money market.