SATO announces voluntary tender offers for its outstanding EUR 300 million notes issued in 2016 and 2015 and considers the issuance of new notes
17 May 2019
SATO Corporation, Stock Exchange Release, 17th May 2019 at 1:52 pm
SATO Corporation (“SATO”) has today announced with the attached announcement voluntary tender offers for its outstanding EUR 300 million notes issued in 2016 and 2015 listed in the Irish Stock Exchange. In addition, SATO considers the issuance of new notes as described in the attached announcement.
For more information, please contact:
Markku Honkasalo, CFO, p. +358 201 34 4226 and +358 50 598 8728
Janne Runsamo, Group Treasurer, p. +358 201 34 4009 or +358 45 671 3567
SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2018 SATO owned around 25,900 apartments in Finland's largest growth centres and in St. Petersburg.
We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.
The SATO Group's net sales in 2018 were EUR 290 million, operating profit EUR 273 million and profit before taxes EUR 231 million. The value of SATO's investment assets was roughly EUR 3.9 billion.