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Cavotec enters into a new long term credit facility agreement

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Cavotec has during the past months conducted a competitive process to procure a new long term credit facility, resulting in competing bids involving several bank consortia. After careful evaluation Cavotec has chosen a consortium led by Credit Suisse to provide a five year credit facility as it offered the most competitive overall services and terms.

“I’m pleased with the agreement with Credit Suisse as it gives Cavotec a cost-effective financing, increased financial flexibility and a prolonged time to maturity”, said Mikael Norin, CEO of Cavotec. “To have this positive outcome in the midst of the current pandemic situation is a testament to the strength of our financial standing coming out of the transformation of the company”.

In connection with the new credit facility a corresponding amount will be repaid on the current credit facility. 

ENDS 

For further details please contact:

Johan Hähnel 
Investor Relations Manager 
Telephone: +46 70 605 63 34 
Email: investor@cavotec.com

The information was submitted for publication, through the agency of the contact person set out above, at 9:00 CEST on 23 June, 2020.

About Cavotec
Cavotec is a leading engineering group that designs and manufactures automated connection and electrification systems for ports, airports and industrial applications worldwide. Cavotec’s innovative technologies ensure safe, efficient and sustainable operationsTofindoutmoreaboutCavotec, visitourwebsiteatcavotec.com.

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