Tornator secured EUR 250 million bond loan refinancing - Tornator

Tornator secured EUR 250 million bond loan refinancing

Tornator Oyj Stock Exchange Release, 25 April 2019 at 16:00 EET – Inside information

Tornator secured EUR 250 million bond loan refinancing

 

The forestry company Tornator Oyj has signed a binding loan contract with OP Corporate Bank Plc for EUR 250 million (“bridge loan”) to refinance a secured bond loan at its maturity in December 2019. The bridge loan will mature in September 2020 and it has customary conditions precedent for the utilization. In addition, Tornator may utilize simultaneously both EUR 100 million revolving credit facility and EUR 200 million commercial paper program at its own discretion. The amendments provide Tornator more capacity to execute its growth strategy.

 

For further information, please contact:
Henrik Nieminen, Chief Financial Officer
Tel. +358 40 869 7613 henrik.nieminen@tornator.fi

 

Tornator is the leading company in Europe specialised in responsible forestry with own forests in Finland, Estonia and Romania. The group turnover was approximately 113 million euros in 2018 and the balance sheet close to 1.6 billion euros. The group employs around 180 people. Tornator forests altogether employ directly approximately 1000 man-years. The main owners of Tornator are Finnish institutional investors. Tornator’s mission is to generate sustainable well-being from the forests. www.tornator.fi/en/