Change in the repayment of Stockmann’s long-term credit facilities
STOCKMANN plc, Investor news 21.2.2018 at 13:30 EET
Stockmann plc announced in November 2017 the refinancing of its long-term credit facilities with OP Corporate Bank plc, Danske Bank A/S, Nordea Bank AB (publ), Finnish Branch, DNB Bank ASA, Svenska Handelsbanken AB (publ) and Swedbank AB (publ).
As a change to the terms of the credit facilities, the first term loan will mature in June 2018 instead of March 2018. The amount of the term loan was EUR 108.7 million at year-end. The proceeds from the senior notes issued in November 2017 decreased the amount of the first loan from the initially agreed amount of EUR 150 million.
The remaining credit facilities will mature in January 2021 in accordance with the original agreement. The terms include an obligation to prepay by no later than January 2019 an aggregate amount of EUR 150 million with respect to the term loans.
Kai Laitinen, CFO, Stockmann, tel. +358 9 121 5800