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Raketech Signs Revolving Credit Facility with Bank of Valletta
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.
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