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May 27, 2025
Source: PR Newswire
KISTA, Sweden, May 26, 2025 /PRNewswire/ -- Sivers Semiconductors AB (STO: SIVE), a global leader in photonics and wireless technologies, today provided additional details on the debt financing with a U.S. Headquartered Bank, established to fully refinance the company's existing debt, while also supporting ongoing growth and financial strategy.
The maximum principal amount under the agreement is $12M. The loan carries a floating interest rate, set at the higher of the U.S. Prime Rate plus 2.5% or 9.0% per annum. The loan is structured as a bullet loan, where interest is paid monthly in arrears and the full principal amount is due at maturity.
The new loan has a three-year term facility, with the possibility for annual refinancing. This means that, provided Sivers Semiconductors remains in compliance with the agreed covenants and interest payments, the company can maintain the loan for the full three-year period. The annual refinancing option will be a bilateral discussion which allows for potential adjustments or extensions by mutual agreement.
For more information, please visit https://www.sivers-semiconductors.com/.
CONTACT:
Media Contact
Tyler Weiland
Shelton Group
+1-972-571-7834
tweiland@sheltongroup.com
Company Contact
Vickram Vathulya
CEO
ir@sivers-semiconductors.com
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