Truecaller secures SEK 850 million loan facility with SEB for financial flexibility
Truecaller AB has entered into an SEK 850 million term loan facility with Skandinaviska Enskilda Banken AB (SEB). The funds are intended to ensure a strong cash position and manage a transfer pricing audit in India, alongside a buyback program and M&A exploration.
Truecaller AB has agreed to a new SEK 850 million term loan facility with Skandinaviska Enskilda Banken AB (SEB). The agreement aims to bolster the company's financial standing and provide flexibility for strategic initiatives.
The newly secured funds are designated to maintain a robust cash position for the company. They are earmarked to cover expenses associated with a previously disclosed transfer pricing audit in India. Additionally, the facility will support the execution of Truecaller's share buyback program and facilitate the exploration of potential mergers and acquisitions.
As part of the same arrangement, Truecaller's existing SEK 500 million revolving credit facility (RCF) with SEB has been revised. This RCF was initially established to fund potential M&A opportunities and had remained undrawn to date. Specific details of the revision to the RCF were not disclosed.
This new lending arrangement provides Truecaller with enhanced financial resources to navigate its operational needs and pursue future growth opportunities.