West Atlantic AB (publ) has secured a new working capital facility of up to MSEK 75 in order to improve its financial position in support of continued growth.
Reference is made to West Atlantic AB (publ) (the “Issuer”) amendments and waivers to the terms and conditions of West Atlantic’s bond loan, approved by the bondholders in a written procedure concluded on 1 February 2018 which permit any reputable bank, in their capacity as provider of the group’s working capital facility, to share the transaction security provided under the Issuer’s bond loan, where the bank will rank ahead in the waterfall up to a maximum amount of MSEK 75.
Revised terms and conditions are available on the Group’s home page, https://westatlantic.eu/category/corporate/
For further information, please contact:
Magnus Dahlberg, CFO
Telephone: +46 (0) 10 452 95 49
This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-08-28, 15:30 CET.
About West Atlantic
The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.
West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden