Listing prospectus for Suominen's EUR 75 million bond available; bank loan facilities renewed
Helsinki, Finland, 2014-09-26 09:30 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock Exchange Release 26 September 2014 at 10:30am (EEST)
LISTING PROSPECTUS FOR SUOMINEN'S EUR 75 MILLION BOND AVAILABLE; BANK LOAN FACILITIES RENEWED
On 17 September 2014, Suominen Corporation announced issuance of a EUR 75 million fixed rate unsecured bond with maturity of five (5) years. The Finnish Financial Supervisory Authority has approved the listing prospectus of the bond. The prospectus is available in English, including the summary also in Finnish, as a pdf file on Suominen Corporation's website www.suominen.fi/.
The bond is expected to be admitted to public trading on NASDAQ OMX Helsinki Ltd on or about 30 September 2014.
New bank facilities
In connection with issuing the bond, Suominen has entered into a syndicated credit facilities agreement totaling EUR 55 million. It consists of a multicurrency revolving credit facility of EUR 30 million with a maturity of four years; a term loan of EUR 10 million with a maturity of three years; and a term loan of EUR 15 million with a maturity of four years. The lenders for the facilities are Nordea Bank Finland Plc and Pohjola Bank Plc. The new bank facilities include leverage ratio and gearing as financial covenants.
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.
NASDAQ OMX Helsinki Ltd