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WS Audiology successfully closes the syndication of a refinancing transaction to support long-term growth  

18 Mar 2024

Press release

Lynge, Denmark – March 18, 2024 – WS Audiology (‘WSA’ or the ‘Company’) today announces it has successfully closed the syndication of a refinancing transaction. 

The refinancing transaction will extend the maturities of WSA’s remaining EUR 3.3 billion long-term loans by three years to 2029. It includes a significant increase in the Group’s working capital facilities, supported by an international banking syndicate.

As part of the transaction, WSA’s shareholders, T&W Medical and funds managed by EQT, plan to inject an additional EUR 500 million in equity, resulting in a significant reduction of WSA’s net leverage.

Since 2021, WSA has generated annual organic revenue growth of 10% to EUR 2,465 million in FY 2022/2023 and maintained an EBITDA margin of above 21%.

Based on the solid revenue growth in the first three months of FY 2023/2024, WSA revised 2023/2024 revenue guidance from 6-10% to 7-10% organic growth.

WSA President & CEO, Eric Bernard, commented:

I am pleased to announce this refinancing transaction, including the additional working capital facilities and the planned equity injection from our shareholders, which will support our future growth.  Thanks to the strong commitment of our shareholders, and the support of our lenders, we can continue to invest in our growth strategy and deliver wonderful sound for all.