Rights issue commitments and refinancing create a significantly stronger financial foundation for the Company's next phase of growth.
SIBS has secured commitments for a rights issue of more than USD 60 million. Combined with the renegotiation of the Company's Swedish bond and new agreements with financing partners and key suppliers, these measures will strengthen the Group's balance sheet by more than USD 100 million.
The strengthened financial position provides a solid platform for continued execution of the Company's strategy, supporting project delivery, customer commitments and long-term international expansion.
"A strong balance sheet is fundamental to earning the confidence of customers, financing partners and investors alike. With these measures in place, SIBS can focus fully on executing its projects, delivering for customers and continuing to build a stronger international business over the long term.” Henrik Ehrnrooth, Chairman of the Board, SIBS.
Closing of the transactions is expected by the end of July.
In parallel, SIBS has seen a marked increase in order intake over the past months, reflecting growing customer confidence in the Company's offering and delivery. Combined with the strengthened financial position, this puts SIBS in a strong position to continue serving its customers and partners going forward.
For more information, please contact:
Erik Thomaeus, CEO, SIBS
et@sibs.se
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