SATO gets seven-year loan of €100 million without asset based securities from Nordea
12 September 2018
SATO Corporation and Nordea Bank AB (publ), Finnish Branch, signed an agreement on a loan of €100 million without asset based securities in Helsinki on 12 September 2018. The funds will be used for refinancing of loans with asset security and for the Group's general financing needs.
- This financing agreement between SATO and Nordea is a consistent step towards our goal. The financing agreement now signed substantially contributes to the further expansion of our financing base towards increased use of financing agreements without asset based securities, in which we have made good progress. The agreement follows on from loans previously agreed with, for example, OP, Aktia, Swedbank and the European Investment Bank (EIB), SATO President and CEO Saku Sipola says.
At the end of the first half of the current year, interest-bearing debt without asset based securities accounted for around 63% of SATO's debt portfolio, and the unencumbered assets ratio on the balance sheet was around 73%.
For more information please contact:
Markku Honkasalo, CFO, phone: +0201 34 4226 or +358 50 598 8728
Janne Runsamo, Group Treasurer, phone +358 201 34 4009 or +358 45 671 3567