Adevinta doubles bank facility with €600 million term loan, revolver

By Wendy Van Sickle

Columbus, Ohio, Feb. 27 – Adevinta ASA entered into €600 million multi-currency term loan and revolving credit facilities on Tuesday, refinancing its existing €300 million bank facility, according to a news release.

The facilities include an accordion feature, which provides for an additional €120 million.

The revolver has a tenor of five years with two one-year extension options. The term loan has a tenor of three years.

DNB Markets and Danske Bank A/S acted as coordinators and also acted mandated lead arrangers and bookrunners along with BNP Paribas SA Norway Branch and Swedbank AB (publ). J.P. Morgan Securities plc and ING Bank NV acted as lead arrangers.

“We are pleased to announce the successful refinancing of our bank facility, practically doubling the liquidity buffer available to us at all times,” Uvashni Raman, chief financial officer of Adevinta, said in the release.

“The new facilities move us towards a funding structure that better supports Adevinta’s strategic intent. The revised banking group brings a wealth of expertise in the complete range of banking products, a global coverage and high expertise in capital markets executions.”

Based in Oslo, Adevinta is a global online classifieds company with generalist, real estate, cars, jobs and other internet marketplaces in 16 countries.

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