Issuing a market filing, Stockholm-listed industry affiliate marketing network Raketech Group Plc has disclosed that it has repaid its entire corporate debt of €7.7 million.
Updating investors, Raketech governance details that the company has completed one of its post-IPO directives, repaying its outstanding corporate debt to allow for a better future capital operating structure.
As a result of the transaction, Raketech governance anticipates accruing corporate savings of approximately €200,000 per quarter.
Commenting on the corporate filing, Andreas Kovacs, CFO at Raketech Group, stated: “To have successfully cleared our former loan facility is a milestone for Raketech’s finance strategy. We now have optimal conditions to carry out additional acquisitions, with lower financial expenses over time”.
Moving to secure a more favourable corporate financing structure, last December Raketech governance entered into a private revolving credit facility of €10 million backed by Swedbank AB.
This February, Raketech published its full-year 2018 results, detailing a continued strong commercial momentum since the firm’s June 2018 IPO on the Stockholm Nasdaq Exchange as its network performance was boosted by the acquired Finnish sports betting assets of urheiluveikkaus.com and esportsguide.com.