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Raketech Signs Revolving Credit Facility with Bank of Valletta

Published

1 year ago

June 5, 2024

Niji Narayan

Raketech Signs Revolving Credit Facility with Bank of Valletta

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Raketech Group Holding Plc has announced that the company has signed a revolving credit facility (RCF) with Bank of Valletta, one of the largest banks in Malta, partially owned by the Maltese government. This strategic move will bolster the company’s financial flexibility and support its growth initiatives. The current credit facility with Avida Finans AB will continue to run in parallel up until December 2024.

New RCF Details:

Credit Limit: EUR 5 million
Interest Rate: 4.5% over the variable internal bank rate (currently 2.15%) when utilised.

“This credit facility reflects Raketech’s strong financial position, and the trust our banking partners have in our business model and future growth plans. We have worked with Bank of Valletta for the last ten years and we are excited to expand on this partnership and to explore further growth opportunities together with them,” Johan Svensson, CEO of Raketech, said.

Related Topics:Bank of Valletta Johan Svensson Raketech Group Holding Plc

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.