The guiding principles of our financial structure
Our aim is to ensure the going concern of the company and increase in shareholder value.
The acquisition of Descom in summer 2015 and the financial solutions applied to implement it had a significant impact on the balance sheet and capital structure of the Solteq Group. The two main elements of the Group’s debt financing are a bond and overdraft and liquidity facilities.
At the time of issue, the fixed-rate bond amounted to 27.0 million euro. The annual interest rate on the bond is 6% and the term to maturity five years. The terms of the bond include definitions of limits and other terms concerning the equity ratio, net interest income and the ratio of interest-bearing net debt to EBITDA. The terms of the bond are available here.
The overdraft and liquidity facilities amount to 6.0 million euro. The financial covenants related to them are included in the terms of the bond.