Press release

Vitec enters into new loan agreement, establishes MTN programme and mandates banks to explore issue of senior unsecured notes to support future acquisitions

THE INFORMATION IN THIS PRESS RELEASE AND DOCUMENTS REFERENCED HEREIN MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (OR TO ANY U.S. PERSON) OR ANY OTHER JURISDICTION WHERE SUCH ACTION WOULD BE UNLAWFUL OR SUBJECT TO LEGAL RESTRICTIONS, EXCEPT IN ACCORDANCE WITH APPLICABLE EXEMPTIONS.

Vitec Software Group AB (publ) (“Vitec”), a leading provider of vertical software, has a profitable and growing business model with positive operational cash flow. Vitec is an industrial acquirer of software companies. To enable Vitec to continue its long-term strategy to grow through acquisitions of well-established vertical software companies, a new financing structure with increased financial flexibility is communicated. The new external financing will be used for future acquisitions.

Vitec has today entered into a new loan agreement regarding a multicurrency revolving credit facility with Nordea and SEB amounting to SEK 3 billion. The facility has a five-year tenor including extension options. The new multicurrency revolving credit facility replaces the existing revolving credit facility and acquisition loan credit.

To further diversify Vitec’s sources of financing and maturity profile, Vitec has established an MTN programme for borrowing via the bond markets with a framework amount of SEK 5 billion. Vitec will apply for admission to trading of notes issued under the MTN programme on the corporate bond list of Nasdaq Stockholm or any other regulated market in accordance with the final terms for each individual issue of notes. A base prospectus relating to the MTN programme has been prepared by Vitec and has been approved and registered by the Swedish Financial Supervisory Authority. The base prospectus is available on Vitec’s website at https://www.vitecsoftware.com/en/investors-press/. SEB has been appointed as arranger of the MTN programme and will also act as dealer together with Nordea.

Vitec has mandated Nordea and SEB as Joint Lead Managers to arrange investor meetings commencing 11 February 2025 to explore the conditions of issuing new SEK denominated senior unsecured notes with an expected volume of SEK 1 billion under the MTN programme. The proceeds from the notes issue will be used for general corporate purposes, including partial refinancing of existing bank loans and will not increase financial net indebtedness.

Snellman Advokatbyrå AB acts as legal adviser to Vitec in connection with the establishment of the new financing structure, including the MTN programme.

About Vitec Software Group
Vitec is a leading provider of Vertical Software and has its origin and headquarters in Umeå, Sweden. Our products are developed to meet specific needs within various niche markets in society. The expertise of our employees, combined with our shared corporate culture and business model, enable continuous improvement and innovation. We grow through the successes of our companies, as well as through acquisitions. Everything we do is based on a long-term perspective. Because we are to rely on – today and tomorrow. Vitec has 1,660 employees, is listed on Nasdaq Stockholm and had net sales of SEK 3,334 million in 2024. Read more at vitecsoftware.com.

Important information
This press release does not constitute an offer to, or an invitation to, acquire or subscribe for any securities in Vitec in any jurisdiction, neither from Vitec, Nordea, SEB or anyone else. This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the prospectus regulation) and has not been approved by any regulatory authority in any jurisdiction. The information contained in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.

The information in this press release and documents referenced herein may not be released, published or distributed, in whole or in part, directly or indirectly, in or into the United States (or to any U.S. person) or any other jurisdiction where such action would be unlawful or subject to legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. Securities referenced herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and are subject to U.S. tax law requirements. Securities may not be offered, sold or delivered within the United States of America or to, or for the account or benefit of, U.S. persons (as defined in Rule 902 of Regulation S under the U.S. Securities Act) except pursuant to applicable exemptions. Accordingly, Vitec may offer securities only (1) to Qualified Institutional Buyers within the meaning of Rule 144A under the U.S. Securities Act and (2) outside the United States to non-U.S. persons in reliance on Regulation S under the U.S. Securities Act.