Azerion enters into an Intercreditor Agreement and a Super Senior Working Capital Facility
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Azerion enters into an Intercreditor Agreement and a Super Senior Working Capital Facility
Amsterdam, 4 April 2024 – Today, Azerion Group N.V. (the “Company”) announces it has entered into (i) an Intercreditor Agreement and (ii) a Super Senior Working Capital Facility Agreement with Citibank Europe plc (as original lender and agent), Citibank N.A., London Branch (as arranger) and Nordic Trustee & Agency AB (PUBL) (as security agent), amongst others, under which the Company is granted a EUR 15,000,000 super senior revolving credit facility (the "Super Senior Working Capital Facility").
The entry into the Intercreditor Agreement and the Super Senior Working Capital Facility is as contemplated by and permitted under the terms and conditions of the EUR 165 million senior secured floating rate bonds, issued by the Company under a framework of EUR 300 million (the "Bonds").
Funds drawn under the Super Senior Working Capital Facility may be used by the Company for general corporate purposes including working capital and acquisitions. The commercial conditions of the Super Senior Working Capital Facility are in line with market practice.
About Azerion
Founded in 2014, Azerion (EURONEXT: AZRN) is one of Europe’s largest digital advertising and entertainment media platforms. Azerion brings global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high quality environment, utilizing our strategic portfolio of owned and operated content with entertainment and other digital publishing partners. Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 26 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.
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For more information visit: www.azerion.com
Contact:
Andrew Buckman
VP Investor Relations
ir@azerion.com
Media
This press release relates to the disclosure of information that qualified, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.