Tellusgruppen receives a revolving line of credit from the principal owner

Published: December 22, 2023

  

Miscellaneous

Tellusgruppen ’s liquidity is significantly affected by seasonal and quarterly fluctuations. To avoid burdening the company with unnecessary long-term debt, its principal owner, Bina Holding AB, provides a revolving credit facility that allows to borrow additional cash for shorter periods when and if the need arises.

Tellusgruppen , AB is owned by Vice Chairwoman Narges Moshiri and CEO Bijan Fahimi, both of whom are co-founders of , AB.

Under the revolving credit arrangement, Bina Holding—provided the company is able to do so—offers so-called revolving credit on the days and weeks when Tellusgruppen needs additional credit. The credit is provided without fixed fees and is repaid once the need has ceased. In return, Bina Holding receives interest based on 15 percent per year.

Under this arrangement, Tellusgruppen can repay the external loan of approximately 7 MSEK that the company took out in connection with the acquisition of its parent company, Omniglot. The arrangement is conducive to repaying the company’s other debts at a faster pace going forward.

For more information

Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.se
+46 707 167 453