Mobile operator My Beat has entered into an agreement with its principal shareholder R-Venture on a credit facility of up to SEK 5 million, available until the end of 2028, according to a press release.
The company has so far drawn SEK 300,000. The interest rate corresponds to three-month Stibor plus eight percentage points and is paid quarterly. The loan must be repaid no later than twelve months after the final drawdown request.
“It is valuable that the company’s new principal shareholder R-Venture is demonstrating its confidence in My Beat by providing this credit facility. It gives us greater flexibility to develop the business and the opportunity to adapt our borrowing to our needs,” says Olav Kalve, CEO of My Beat, in a comment.
