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New debt facility agreement

08 / 02 / 2023

The Board of Directors in Mintra Holding AS have approved a new credit facility with Nordea Bank on the 8th February 2023.

The agreement implies the following new debt structure:

  • Term loan A, mNOK 120, straight line 5 year amortization
  • Term loan B, mNOK 120, 5 year bullet
  • RCF facility, mNOK 30, annual clean down

Significant covenants are:

  • Maximum NIBD/ EBITDA leverage.
    Initial restriction on 3.8x being reduced to 2.5x during the lifespan of the agreement.

Proceeds from the facility may be allocated to

  • repayment of the current financial debt to Nordea
  • distribution of dividend
  • general business and corporate purposes

The facility is NOK based, has competitive interest margin depending on leverage. Base rate set on relevant IBOR.

For further information please contact:

Kevin Short, CEO, tel: +44 1224 651340

Jostein Hufthammer, CFO, tel: +47 488 94 940

Triin Barrow, Investor Relations, tel: +44 1224 052164

About Mintra
Mintra Holding AS is a technology company which has been shaping the eLearning industry for more than 30 years. By taking pride in supporting more than 3,600 companies develop and deploy their people to meet competency and training requirements, Mintra has solidified its position as a preferred partner in the eLearning and human capital management solutions markets. Mintra is focused on clients with workforces operating in safety-critical industries such as energy and maritime where regulatory training is mandatory and needs to be refreshed and assessed on a frequent basis.