Sanoma Corporation, Stock Exchange Release, 9 February 2016 at 8:30 CET+1
Sanoma Corporation has signed a EUR 500 million Syndicated Revolving Credit Facility with a group of seven relationship banks. The facility has a maturity of four years, with a 1 year extension option. The margin on the facility depends on the leverage ratio of the borrower, the initial margin being 1.75% over Euribor.
The new facility is, in line with the lower financing need of the group, replacing the existing EUR 600 million syndicated revolving credit facility and will be used for general corporate purposes.
“We are pleased with having successfully syndicated and signed this new loan facility with our relationship banks. Refinancing this facility maturing in 2017 is an important enabler in executing our strategy going forward.", says Kim Ignatius, CFO, Sanoma Corporation.
The Mandated Lead Arrangers for the transaction are, ING, Nordea, Pohjola Bank, Danske Bank and Handelsbanken. SEB and Swedbank act as Lead Arrangers of the facility.
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