Sweden's largest yellow pages distributor, Eniro AB has improved its share values in the last three months after being able to renegotiate the terms of its long term loans.
The share values jumped by as much as 6.3% from previous highs and this gave Eniro a market valuation of 1.81 kronor or US$274 million. The trading volumes were 17% higher than the past three month's daily average.
Eniro had signed a commitment letter with its lenders a year prior to the expiry of the current loan agreement. In statement issued today, the company based out of Stockholm has said that the deal for the 3 billion kronor loan runs for three years with an option for an extension between one and four years conditioned on the requirement that 800 million kronor would be replaced with a corporate bond.
Eniro added that the deal provides 'a more flexible annual repayment rate, increased operational flexibiliity and a continued possibility of future dividends."
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