Byggmax signs new three-year funding agreement with 30% lower interest expenses on a full-year basis

Regulatory News:

Byggmax (STO:BMAX) has signed a new funding agreement with a tenor of three years, which means that the agreement extends until March 2017. Accordingly, this means that Byggmax has chosen to extend its cooperation with Handelsbanken, with whom the company has a long-standing relationship. The funding agreement comprises a SEK 400 M overdraft facility and a revolving credit facility of SEK 270 M, with no amortization obligation. The new agreement means that Byggmax lowers its interest expenses by about 30% on a full-year basis, based on last years net debt-level.

Byggmax was launched in 1993 and currently has 69 stores in Sweden from Ystad to Luleå. The company had net sales of approximately SEK 3.2 billion in 2013 and is continuing to expand strongly. Byggmax also has 25 stores in Norway and 13 in Finland making a total of 107 stores in the Group. From the very beginning, Byggmax’s business concept has been to be the best and most inexpensive alternative for consumers in need of high-quality construction materials. Byggmax has a drive-in system at all its stores, enabling customers to load their products into their vehicles directly. This makes life easy and efficient for customers, particularly when buying heavy construction materials. Byggmax was listed on the NASDAQ OMX Stockholm exchange in June 2010.
For more information see: www.byggmax.se.

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