Musti Group to diversify and strengthen its financing base by establishing a EUR 50 million domestic commercial paper program and signing a new EUR 20 million revolving credit facility
Musti Group plc Stock Exchange Release 15 July 2022 at 1.45 p.m.
Musti Group to diversify and strengthen its financing base by establishing a EUR 50 million domestic commercial paper program and signing a new EUR 20 million revolving credit facility
Musti Group plc has established a EUR 50 million domestic commercial paper program with Nordea Bank Oyj and Swedbank Ab (publ) Finland Branch. Under the program, the company may issue commercial paper with a maturity of less than one year. The commercial paper program will be used to secure short term liquidity and to optimize funding cost.
Musti Group and Danske Bank A/S, Finland Branch, have signed a new committed EUR 20 million revolving credit facility maturing in July 2025. The revolving credit facility secures Musti Group’s access to financing and acts as a committed backstop for commercial paper program issuances.
The financing arrangements diversify Musti Group's financing base, optimize financing cost and support the company achieving long-term strategic goals.
Additional information:
Toni Rannikko
CFO, Musti Group
Tel. +358 40 078 8812
Martin Svedholm
Group Treasurer
Tel. +358 50 579 0324
Distribution:
Nasdaq Helsinki
Main media
www.mustigroup.com
Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company, and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.
Musti Group’s net sales were EUR 341 million in the financial year 2021. At the end of the financial year 2021, the company had 1,397 employees, 1.3 million loyal customers and 312 stores.
