Innofactor redeems the EUR 3.2 million hybrid bond in cash
29.02.2016 00:00
Innofactor Plc Stock Exchange Release February 29, 2016 at 09:30 Finnish time
On December 17, 2013, Innofactor Plc issued a EUR 3.2 million hybrid bond, i.e. an equity bond. The proceeds of the hybrid bond were used to buy back approximately 4.7 million Innofactor's own shares from the atBusiness Oy sellers at the end of 2013. The purchased shares were voided.
The hybrid bond's annual coupon rate has been 9%. The bond had no due date, but the company had the right to redeem it in February 2016.
Innofactor has today redeemed this EUR 3.2 million hybrid bond in its entirety. Innofactor has no other hybrid bonds.
Innofactor did not take a new bank loan to redeem the hybrid bond. Currently, Innofactor has bank loans for a total of approximately EUR 11.3 million.
Espoo, February 29, 2016
INNOFACTOR PLC
Janne Martola, CFO, Deputy CEO
Additional information:
Janne Martola, CFO, Deputy CEO
Innofactor Plc
Tel: +358 50 359 0844
Distribution:
NASDAQ OMX Helsinki
Main media
www.innofactor.com
Innofactor
Innofactor is one of the leading Nordic IT solution providers focused on Microsoft platforms. Innofactor delivers business critical solutions and maintenance services as a system integrator and develops its own software products and services. The focus area in Innofactor’s own product development is Microsoft’s cloud solutions. Innofactor's customers include over 1,000 private and public sector organizations in Finland, Sweden, Denmark and elsewhere in Europe. The company has over 500 motivated and skilled employees in a number of locations in Finland, Sweden and Denmark. In 2010-2014, the annual growth of Innofactor’s net sales has been approximately 45%. Microsoft named Innofactor Plc as the Finnish Partner of the Year in 2015. Innofactor was also selected into the Microsoft’s international finals in two categories. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy. www.innofactor.com