Voi lands €150M credit line to retire its bonds
What's the deal? Voi, the Swedish micromobility company, has secured a €150 million revolving credit facility from Danske Bank, SwedbankDealroom has a profile for this one. Try Dealroom →, and DNB SwedenDealroom has a profile for this one. Try Dealroom →. The facility will fund the redemption of Voi's outstanding bonds, refinance an existing unused credit line, and expand its vehicle fleet.
Why now? Since its first bond issuance in 2024, Voi has funded growth mainly through the Nordic bond market. The new bank facility marks what the company calls "a new stage" in its financing strategy, giving it access to more flexible and cost-efficient capital.
The numbers: Voi will redeem all outstanding bonds at 103.375% of nominal value plus accrued interest, with completion expected on October 19, 2026. The bonds are set to be delisted from Nasdaq Stockholm around that date.
Entering from strength: Voi's second-quarter net revenue grew 47% year over year to €68.8 million, pushing trailing twelve-month revenue above €200 million for the first time. Adjusted EBITDA nearly doubled to €19.7 million, a 28.6% margin, while net leverage fell to 1.76x from 2.41x a quarter earlier.
What they're saying: "This facility is a clear vote of confidence from some of the Nordic region's leading banks, and a sign that micromobility has matured into a bankable industry," said co-founder and chief executive officer Fredrik Hjelm.
The signal: At €150 million, this debt round sits in the 91st percentile of all mobile-app debt deals in Sweden. It marks a shift for a sector once seen as speculative — micromobility firms are now securing bank financing on the strength of positive cash flow rather than bond-market appetite.
Read more: marketscreener.com
Image credit: Generated with Gemini
