Tornator Oyj entered into EUR 100 million loan transaction
Imatra, Finland, 2017-04-04 16:31 CEST (GLOBE NEWSWIRE) --
The forestry company Tornator Oyj has signed an additional bilateral financing of EUR 100 million with OP Corporate Bank plc. The secured financing has a maturity of approximately four years and consists of a new tranche of EUR 50 million within the existing loan facility, and of a new term loan of EUR 50 million. The additional funding supports company’s growth strategy, and at the same time all bank loan maturities will be extended by a year.
In addition to bank debt, Tornator has a secured bond loan of EUR 250 million, listed on the Helsinki Stock Exchange, and an unsecured debenture loan of EUR 65 million.
For further information, please contact:
Henrik Nieminen, Chief Financial Officer
Tel. +358 40 869 7613
Tornator is a leading company specialised in responsible forestry with own forests in Finland, Estonia and Romania. The group turnover was approximately 97 million euros in 2016 and the balance sheet grew close to 1.4 billion euros. The group employs around 200 people. Tornator forests altogether employ directly approximately 900 man-years. The company is the most remarkable community tax payer in North Karelia and amongst the top 50 in Finland. The main owners of Tornator are Finnish institutional investors. www.tornator.fi/en/