Nonwovens / Technical Textiles
2020-07-16
Suominen has signed a credit facility agreement linked to sustainability targets
Suominen has entered into a single-currency syndicated revolving credit facility agreement of EUR 100 million with a maturity of three years with two one-year extension options. The lenders for the facility are Danske Bank A/S, Finland Branch and Nordea. The new credit facility includes leverage ratio and gearing as financial covenants.
The margin of the facility will increase or decrease dependent on Suominen meeting two sustainability key performance indicators (“KPI”), namely:
- Increase in the sales of sustainable products
- Reduction of greenhouse gas emissions
The new credit facility replaces the existing EUR 100 million syndicated revolving credit facility agreement of Suominen provided by Nordea and Svenska Handelsbanken AB (publ), Branch Operation in Finland as the lenders.
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