A Sweden based game development company; Stillfront raised around €365 million or 3.75 SEK (Swedish Krona) revolving credit facility on 10th December 2020. This new facility gives the company a cost effective financing with an increased financial flexibility and a good time for its maturity.
This freshly raised revolving credit facility with its maturity date in 2023, December will be used in replacing the secured revolving credit facility of approx US$ 1.4 million or 1.6 billion SEK which was provided to the company under the facilities agreement this year in January.
The recent unsecured revolving credit facility included participation from the DNB Bank ASA, Nordea Bank ABP and Swedbank AB. The Swedish law firm Mannheimer Swartling led the financing as the legal advisor of Stillfront.
The CFO of Stillfront, Andreas Uddman said, “We are very happy for securing a new credit facility at our favourable terms. This new facility underlines the belief of our strategy and gives us a bigger and more flexible financing platform for the continuation of our delivery on our future growth plans.”
Stillfront is one of the leading free to play platforms of gaming studios. It is an independent game developer and publisher with a portfolio of high quality games. The company acquired 4 gaming studios this year. This includes Storm8 at US$ 300 million, Nanobit at US$ 100 million, Candywriter at US$ 74.4 billion and the platform Everguild at £1.1 million.
The company visions to be a leading free-to-play powerhouse for the gaming studios. They acquire profitable and low risk gaming studios that have a global reach and go along their (PLEX) product, (HIGS3) growth and (pub) marketing strategies. They believe in delivering superior shareholder value by bringing strong growth and diversifying risk.
Currently, Stillfront consists of its gaming studios in North America, MENA Region and Europe that develop and publish games on various platforms. Some of the gaming studios of Stillfront include Babil Games in Dubai, Bytro Labs in Germany, Candywriter in US, Coldwood Interactive in Umea and many more. The group also has a bunch of featured games like Battle Pirates Big Farm: Mobile Harvest, Bitlife, Call of War, Conflict Of Nations etc.
About Stillfront Group
Stillfront is an independent group that creates and publishes a portfolio of high quality games. With the vision of becoming one of the leading game creators of Europe, they have an exciting gaming portfolio platform. Headquartered in Sweden the company is in the list of NASDAQ First North Premier Growth Market.
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 revolving credit facility on 10th December 2020. This new facility gives the company a cost effective financing with an increased financial flexibility and a good time for its maturity.){kind=link}