Relais raised and extended his financing agreement

Translation: Original published in Finnish on 03/28/2025 at 12:47 pm EET

The previous financing agreement was due in just over a year, but the new agreement, made well in advance, gives the company a few more chips to carry out acquisitions and extends the maturity of debts. These improve the company’s ability to implement its strategy and value creation model.

A new bigger financial agreement

Relais announced on Friday that it had signed a financing agreement of 140 MEUR with its main bank. The new agreement has a maturity of three years and includes two one-year extension options. The new agreement’s maximum amount of 140 MEUR consists of a 110 MEUR multi-currency term loan, a 10 MEUR Revolving Credit Facility, and a 20 MEUR uncommitted term loan facility. According to the company, new facilities will be used for refinancing the existing debt, financing future acquisitions, as well as general business purposes.

More chips for M&A transactions

With the new financing arrangement, the company extends the maturity of its debts well in advance as has been customary, as the due date of the previous financing amendment agreement was 4/2026. At the same time, the company is also raising the maximum amount of financing, which was 127 MEUR under the previous agreement. Thus, the company gained some additional chips with the new financing agreement, which we estimate it will use especially for acquisitions in line with its strategy and value creation model. This is also in line with our previous estimates that achieving the company's financial target (50 MEUR pro forma EBITA by the end of 2025) will require additional debt capacity. However, we note that achieving the target is not an end in itself, but what is essential is the value creation potential of the arrangements made to achieve it. Our latest company report on Relais is available here.