SRV has signed a credit facilities agreement

SRV GROUP PLC     INVESTOR NEWS     28 APRIL 2021      18.30 EET

SRV has signed a credit facilities agreement

SRV Group Plc has today, on 28 April 2021 signed a facilities agreement replacing the company’s current,

EUR 51 million revolving credit facility and EUR 40 million project financing facility. The facilities were replaced with a new EUR 40 million committed revolving credit facility, a EUR 40 million committed project financing facility and a EUR 63 million uncommitted project financing facility. The lenders in the facilities are OP Corporate Bank Plc, Danske Bank A/S, Nordea Bank Abp and Swedbank Abp (publ).

EUR 10 million of the new EUR 40 million revolving credit facility will mature in March 2022 and EUR 30 million in April 2023. The EUR 40 million committed project financing facility will mature in April 2023 or within another repayment period agreed for separate project financings. The facilities agreement contains an option for one-year extension, subject to the lenders’ subsequent decision. The financial covenants of the facilities are equity ratio, gearing, minimum liquidity and EBITDA.

“Concluding the new facilities agreement, together with the amended terms of SRV’s senior bonds that were published yesterday, significantly improves the company’s financing maturity structure and contributes to the long-term development of business operations, profitability and the implementation of the company´s new strategy,” says Jarkko Rantala, CFO of SRV.

For further information, please contact:
Saku Sipola, President & CEO, Tel. +358 (0)40 551 5953, saku.sipola@srv.fi
Jarkko Rantala, CFO, Tel. +358 (0)40 674 1949, jarkko.rantala@srv.fi
 

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SRV in brief
SRV is a developer and innovator in the construction industry. Our objective is a new lifecycle-wise reality where solutions related to construction ensure well-being, financial value and the benefit of users, residents and environment – for years and generations to come. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland and Russia. In 2020, our revenue totalled EUR 975.5 million. In addition to about 1,000 SRV employees, we employ a network of around 4,200 subcontractors.

SRV - Building for life