Embracer Obtains €600m Revolving Credit Facility

Embracer has successfully secured a new €600m ($652m) revolving credit facility spanning two years. This facility supersedes the existing €420m ($456m) revolving credit facility, which is set to mature in May 2025. The new facility boasts improved terms, including a significantly reduced credit margin for utilized debt, which Embracer believes will lower interest expenses through enhanced terms and decreased financial leverage. According to Lars Wingefors, co-founder and CEO of Embracer, 'Thanks to the substantial measures implemented throughout this calendar year, we have fortified our financial structure and prudently reduced our financial leverage.' He added that 'this move is part of our transformation into a leaner, more focused organization.' The transaction involved seven banks: BNP Paribas, Citibank, N.A., London Branch, DNB Bank ASA, Sweden Branch, J.P. Morgan SE, Nordea Bank Abp, filial i Sverige, SEB, and Swedbank AB (publ). Embracer Group recently repaid SEK 3.2 billion ($300m) on its revolving credit facility, made possible by the net proceeds from the sale of Gearbox Entertainment to Take-Two Interactive.