SRV Group Plc has signed a long-term binding EUR 100 million revolving credit facility with a Nordic banking consortium. The mandated lead arrangers are Danske Bank A/S, Nordea Bank Finland Plc, Pohjola Bank Plc, Svenska Handelsbanken AB and Swedbank AB. Pohjola Bank Plc act’s as a coordinator for the arrangement and as an agent for the credit facility.
“This is an indication of SRV’s trusted reputation in an uncertain market. The revolving credit facility secures the availability of working capital during a period of strong growth for the company. All of SRV’s key partner banks participated in the loan and the total sum of the EUR 100 million facility was oversubscribed. The banks’ commitment to financing its customers is also an indication both of the banks’ strong financial position and their long-term investment in developing their customer relationships,” says SRV CEO Jukka Hienonen.
The loan replaces a syndicated revolving credit facility signed in 2007. The new credit facility has a maturity date of 31 December 2015. The terms of the loan correspond to the terms of SRV’s other loans and a financial covenant of the loan is the equity ratio.
SRV Group Plc
Vice President, Communications and Brand Management
Hannu Linnoinen, Senior Executive Vice President, CFO, tel. +358 201 455 990