The governance of Stockholm Nasdaq-listed industry affiliate marketing network Raketech Group Plc, has announced that it has achieved a significant post-IPO benchmark, clearing its corporate debt of €7.7 million.
The fast growth affiliate marketing firm, which listed on the Stockholm Nasdaq on June 2018 states that having repaid its corporate debt, it will now support its corporate growth strategy with an improved capital financing framework.
Repaying its entire €7.7 million debt, Raketech’s executive team details that the company will be saving approximately €200,000 per trading quarter, significantly lowering financial costs by removing loan facility repayments.
Updating investors, Andreas Kovacs, CFO at Raketech, commented: “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 forward with a restructured capital framework, Raketech governance has secured access to a €10 million revolving credit facility backed by Swedbank AB (transaction approved December 2018).