STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) -- Observer AB has strengthened its long-term financing by raising a USD 175 million Multi-Currency Revolving Credit Facility. The financing has a final maturity of 5 years and the transaction was arranged and syndicated by Nordea and SEB Merchant Banking with Svenska Handelsbanken as Senior Co-Arranger.
"The agreement provides us with effective long-term financing. This and the Rights Issue completed in April strengthens Observer's financial ability to continue our international growth strategy," said Robert Lundberg, Observer's CEO.
The bank syndicate providing the financing comprises Nordea, SEB, Svenska Handelsbanken, Nykredit Bank, Bank of Nova Scotia and HVB Bank Ireland.
For further information, please contact:
Anders Lundmark, Chief Financial Officer, telephone: +46 8 507 417 23/ 46 70 333 29 77, e-mail: anders.lundmark@observergroup.com Per Blixt, Senior VP Corporate Communications, telephone: +46 8 507 410 12/+46 70 549 28 08, e-mail: per.blixt@observergroup.com David Roberts, Nordea tel: +46 8 614 7709 Torbjorn Jansson, SEB Merchant Banking tel: +46 8 506 23233
Facts about Observer AB
Observer AB, quoted on the O-list (Attract 40) of Stockholm Stock Exchange, operates in the field of business and communication intelligence, with media and market monitoring, analysis and communication evaluation, target group identification and distribution of information for PR and IR purposes. Observer AB has annual sales of nearly SEK 1.9 billion and around 2,500 employees in the U.S., U.K., Sweden, Canada, Germany, Norway, Finland, Denmark, Portugal, Ireland, Estonia, Latvia and Lithuania.
This press release is also available online at www.observergroup.com
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