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Sponda signs syndicated credit facilities agreement totalling EUR 600 million

Sponda Plc               
Stock Exchange Release         
14 June 2016, 15:15

Sponda signs syndicated credit facilities agreement totalling EUR 600 million

Sponda Plc has signed a syndicated credit facilities agreement for EUR 600 million in total. The agreement includes a term-loan for EUR 500 million and a EUR 100 million revolving credit facility.

The unsecured facilities are for 5 years. The term-loan is being used for refinancing existing loans that mature in 2016 and for general corporate purposes. The EUR 100 million revolving credit facility extends the similar undrawn EUR 100 million revolving credit facility’s original maturity from November 2016.

The terms for the facilities are similar to those for Sponda’s other loans and the most important covenants (the equity ratio and the interest coverage ratio) of the arrangement are in line with the company’s other financial covenants.

The mandated lead arrangers and bookrunners are Danske Bank A/S, Nordea, OP Corporate Bank plc, SEB and Swedbank AB (publ) and the lead arrangers Aktia Bank p.l.c. and Helaba (Landesbank Hessen-Thüringen Girozentrale). Nordea acted as sole co-ordinating bookrunner and is the Facility Agent

Sponda Plc

Kari Inkinen
President and CEO

Further information: Kari Inkinen, President and CEO, tel. +358 400 402 653

Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.7 billion and the leasable area is around 1.2 million m².