Tikkurila's commercial paper program renewed
Stock Exchange Release
October 14, 2015 at 3:00 p.m. (CET+1)
Tikkurila Oyj renews its commercial paper program, effective from October 14, 2015, so that the maximum aggregate nominal value of the program will be EUR 150 million. This will replace the current EUR 100 million commercial paper program. Based on this new program, Tikkurila Oyj can issue unsecured debt with a maturity of less than one year into the Finnish money markets via Danske Bank Oyj and Pohjola Pankki Oyj. This change does not cause any arrangement costs. The revolving credit facility of the bank financing agreement, announced in June 2015, acts as a back-up facility for the revised commercial paper program.
This revision aims to increase the flexibility of Group's short-term debt financing, to enable replacing some other forms of financing with direct debt from the markets, and to extend the base of potential investors.
Jukka Havia, CFO
For further information, please contact:
Jukka Havia, CFO, mobile +358 50 355 3757, email@example.com
Tikkurila is the leading paints and coatings professional in the Nordic region and Russia. With our roots in Finland, we now operate in 16 countries. Our high-quality products and extensive services ensure the best possible user experience in the market. Sustainable beauty since 1862.