Voi Technology AB, the Swedish micromobility operator, has announced a new €150 million revolving credit facility with three leading Nordic banks. The agreement involves Danske Bank, Swedbank, and DNB Sweden, and it signals a significant shift in the company's financing strategy. The new facility will support fleet expansion, refinance existing credit arrangements, and fund the early redemption of outstanding bonds.
Facility Details and Purpose
The new facility replaces Voi's existing unutilized revolving credit facility and provides capital to redeem its outstanding bonds under ISIN SE0023134952. These bonds were issued under terms dated October 17, 2024, and the redemption is conditional on customary first utilization conditions. If those conditions are satisfied, the redemption is expected to complete on October 19, 2026.
Strategic Use of Proceeds
Voi will use the proceeds from the new facility to redeem its outstanding bonds, refinance its existing unutilized revolving credit facility, and invest in growing its vehicle fleet. This capital structure move is designed to provide more flexible and cost-efficient financing as the company scales its operations. It also reduces reliance on bond market funding and deepens relationships with established Nordic banks.
Bond Redemption Terms
Bondholders will receive a redemption price of 103.375% of the nominal amount per bond plus accrued and unpaid interest up to the redemption date. Payment will be made to investors registered on the record date of October 12, 2026, through Euroclear Sweden. The bonds are expected to be delisted from Nasdaq Stockholm's corporate bond list around the redemption date.
A New Stage in Financing Strategy
Since its first bond issuance in 2024, Voi has funded growth mainly through the Nordic bond market, and that access has supported expansion over the past two years. Establishing the new facility with three major Nordic banks reflects growing financial maturity and provides more efficient financing to support the company's plans. This move marks a new stage in how Voi manages its capital structure and future growth.
Financial Performance Supports the Move
Voi's second quarter of 2026 highlighted the company's operating momentum, with net revenue growing 47% year over year to EUR 68.8 million. Revenue for the trailing twelve months surpassed EUR 200 million for the first time, while adjusted EBITDA nearly doubled to EUR 19.7 million at a 28.6% margin. Net leverage declined to 1.76x from 2.41x at the end of the first quarter even as the company continued investing in fleet growth.
Leadership Views
Chief Financial Officer and Deputy CEO Mathias Hermansson described the facility as an important milestone that follows strong cash flow generation in recent years. He said the new arrangement offers more flexible and cost-efficient financing as the company continues to scale. Chief Executive Officer Fredrik Hjelm added that the facility represents a clear vote of confidence from leading Nordic banks and shows micromobility has matured into a bankable industry.
Commitment to Continued Transparency
Voi also confirmed that it will continue its quarterly financial reporting and sustainability reporting under the Corporate Sustainability Reporting Directive, or CSRD, framework. This ongoing commitment reflects the company's intention to maintain transparent communication with all stakeholders, including bondholders, city partners, and investors. The company's investor website will continue to provide access to bond terms, conditions, and related documents.
With this €150 million revolving credit facility, Voi is positioned to redeem existing debt and support continued fleet expansion from a stronger financial base. The refinancing follows record revenue, rising profitability, and lower leverage, which together underline the company's financial progress. By shifting toward bank financing with three established Nordic institutions, Voi is signaling greater maturity and long-term confidence in the micromobility sector.