SRV Group Plc extends the EUR 100 million syndicated credit facility
SRV GROUP PLC INVESTOR NEWS 19 JUNE 2019 15.30 EET
SRV Group Plc extends the EUR 100 million syndicated credit facility
SRV Group Plc has extended its current long-term binding revolving credit facility of EUR 100 million with a Nordic banking consortium (OP Corporate Bank, Danske Bank, Nordea and Swedbank) by one year. OP Corporate Bank plc acted as a coordinator of the loan arrangement and acts also as a loan agreement agent.
The current EUR 100 million credit facility was signed on 16 June 2017 and was due on 16 June 2020. The new due date under the extension agreement, signed today, is 16 June 2021. The terms of the loan correspond to the terms and conditions of SRV's other loans and the financial loan covenants are the equity ratio and gearing.
“The extension of the credit facility together with the hybrid bond emission and early repayment of loans made in May improves the company's financial position and contributes to the business operations development, profitability and other financing of the company,” says Ilkka Pitkänen, CFO of SRV.
For further information, please contact:
Ilkka Pitkänen, CFO, Tel. +358 40 667 0906, ilkka.pitkanen@srv.fi
Maija Karhusaari, Senior Vice President, Communications and Marketing, Tel. +358 45 218 3772, maija.karhusaari@srv.fi
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SRV in brief
SRV is a bold developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.
Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in selected growth centres in Finland and Russia. Our revenue in 2018 was EUR 960 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.
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