Innofactor Plc Stock Exchange Release October 7, 2015, at 8:30 Finnish time
On December 17, 2013, Innofactor Plc issued a EUR 3.2 million hybrid bond, i.e. an equity bond. The proceeds of the hybrid bond were used to buy back approximately 4.7 million Innofactor's own shares from the atBusiness Oy sellers at the end of 2013. The bond's annual coupon rate has been 9%. The bond has no due date, but the company has the right to redeem it in February 2016, before the rate increases to 12%.
Innofactor has signed an agreement, which enables Innofactor to raise a 6-year bank loan (senior bank loan) of EUR 3.2 million in order to redeem the hybrid bond. The bank loan will decrease Innofactor’s financing costs significantly compared to the current hybrid loan.
INNOFACTOR PLC
Sami Ensio, CEO
Additional information:
Sami Ensio, CEO
Innofactor Plc
Tel: +358 50 584 2029
Distribution:
NASDAQ OMX Helsinki
Main media
www.innofactor.com
Innofactor Plc
Innofactor is one of the leading Nordic IT solution providers focused on Microsoft platforms. Innofactor delivers business critical solutions and maintenance services as a system integrator and develops its own software products and services. Innofactor’s own product development is focused on Microsoft Azure-based cloud solutions. Innofactor's customers include approximately 1,000 private and public sector organizations in Finland, Denmark, Sweden, and elsewhere in Europe. The company has about 400 motivated and skilled employees in several locations in Finland, Denmark and Sweden. From 2010 to 2014, Innofactor's annual net sales growth has been 45% on average. Microsoft has named the software provider Innofactor Plc as the partner of the year in 2015. Innofactor was also selected into the Microsoft’s international finals in two categories. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy.