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Suominen issues EUR 75 million bond as part of refinancing

Suominen Corporation   Stock Exchange Release   17 September 2014 at 8:40am (EEST)
 
Suominen Corporation, a global supplier of nonwovens, announced on September 4, 2014 that the company, as part of its plans to diversify and extend its existing financing, is considering an issuance of a senior unsecured fixed rate bond.

In accordance with the aforesaid plans, Suominen Corporation refinances its debt portfolio by issuing a EUR 75 million senior unsecured bond and renewing a syndicated bank loan facility.

The bond has a maturity of 5 years, and it carries a fixed coupon with an interest rate of 4.375 per cent per annum. Issue attracted a broad investor base in Finland and in other Nordic countries and was oversubscribed by more than 40 investors. Application will be made to have the bond listed on NASDAQ OMX Helsinki. The proceeds of the bond offering will be used for repayment of existing bank loans and general corporate purposes.

Nordea Markets and Pohjola Markets acted as Joint Lead Managers and Bookrunners of the bond. Nordea Bank Plc and Pohjola Bank plc acted as Mandated Lead Arrangers of the bank loan facility. Merilampi Attorneys Ltd acted as the company’s legal advisor and Attorneys at Law Borenius Ltd acted as the legal advisor to the Joint Lead Managers.

Suominen Corporation
Nina Kopola, President & CEO

For additional information, please contact Tapio Engström, Senior Vice President and CFO, tel. +358 (0)10 214 300

Suominen in brief

Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens - wet wipes, feminine care products and swabs, for instance - bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs approximately 600 people in Europe and in the Americas. Suominen’s net sales in 2013 amounted to MEUR 373.7 and operating profit excluding non-recurring items to MEUR 19.4 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.


Distribution:
NASDAQ OMX Helsinki Ltd
Principal media
www.suominen.fi