SATO obtains a seven-year loan of €150 million without asset based securities from OP
2 May 2019
SATO Corporation and OP Corporate Bank plc have agreed upon a bilateral loan of €150 million without asset based securities. The agreement of the seven-year loan was signed in Helsinki on 2 May 2019, and the cash proceeds will be used for refinancing of maturing loans as well as for the Group’s general financing purposes.
The new financing agreement supports SATO’s target to further increase the share of loans without asset based securities in the financing structure. At the end of 2018, interest-bearing debt without asset based securities accounted for approximately 66% of SATO's debt portfolio, and the share of unencumbered assets out of the whole balance sheet was around 74%.
For more information, please contact:
Markku Honkasalo, CFO, phone +358 201 34 4226 or +358 50 598 8728
Janne Runsamo, Group Treasurer, phone +358 201 34 4009 or +358 45 671 3567