Systems integrator Ordina has extended its financing facility with ABN Amro and ING for the third time.
The €30m facility, which was set to expire in May 2020 has been extended by an initial three years. Ordina has the option of lengthening the loan by an additional two years.
The refinancing replaces €30m loan secured in 2015 and a €35m loan in 2011.
Q1 revenues fell by 3.6 per cent year on year for Ordina to €94.6m. Operating profits (EBITDA) meanwhile shrank by €300,000 to €5.7m on a year-on-year basis.
Ordina has been one of the European channel's best-performing publically listed firms so far this year. Its share price grew by more than 30 per cent in the opening six months of 2019, hitting a market cap of €170m.
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