10th Mar 2026 11:43
(Alliance News) - Chrysalis Investments Ltd on Tuesday said it has made a repayment towards an existing financing facility with Barclays Bank PLC to maintain compliance with its loan-to-value requirements.
The innovative businesses investment trust made the repayment after Klarna Group PLC's share price drop following its debut on the New York Stock Exchange in September affected the company's borrowing base. Chrysalis supported Klarna for years, investing at various rounds.
Chrysalis said it had acquired some 4.2 million shares in Klarna, worth approximately GBP136.9 million on June 30 and equivalent to 15.1% of the trust's net asset value, before they started trading on September 10.
Klarna started trading at USD40 per share, but more than halved its share price over the following months. Its pre-market price of USD14.47 per share, in New York early on Tuesday, would make the initial investment worth about GBP45.1 million.
Chrysalis previously said it wanted to exit the investment, but that its lock-up period would last until March 9.
As such, Chrysalis made a GBP32.8 million payment towards the facility, which it plans to repay in full in September. Following two further prepayments prior to maturity for a combined GBP20 million, the trust said it has repaid GBP42.8 million against the GBP60 million loan, leaving GBP17.2 million outstanding.
It also said that, as of the end of last week, it had a total liquidity position of about GBP76.7 million, of which GBP30.7 million was in cash, GBP43.3 million in Klarna positions, and GBP2.7 million invested in Wise PLC.
Chrysalis shares were up 2.3% to 88.50 pence each on Tuesday morning in London.
By Martin Miraglia, Alliance News reporter
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Related Shares:
Chrysalis InvesWise PlcBarclays