4 Aug 2020
NIB provides COVID Response loan to support Danish hearing healthcare
NIB and the Danish hearing healthcare company Demant A/S have signed a new, two-year loan agreement of EUR 60 million.
The Demant group offers solutions to help people with hearing loss connect and communicate with the world around them. The group develops hearing devices and hearing care, hearing implants, diagnostics and intelligent audio solutions. The company was affected by the coronavirus outbreak, which has had an unprecedented negative impact on the hearing healthcare market.
“As called upon by our owners, NIB is extending loans to businesses in our member region to help them bridge the economic impact of the COVID-19 pandemic. The loan aims to support Demant in ensuring adequate financing to cope with challenging market conditions in hearing healthcare”, says Henrik Normann, NIB President & CEO.
Demant plays an important role in global hearing healthcare and the Nordic MedTech cluster, and the COVID-19 pandemic had no impact on the fundamental drivers for hearing healthcare products and services.
Demant A/S is a Denmark-based global leader in modern hearing healthcare solutions. The company’s product range includes hearing aids, diagnostic instruments, hearing implants and audio solutions in areas such as enterprise communication and gaming. At the end of 2019, Demant had 15,834 employees globally.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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