Rettig Group has agreed extensions of certain existing loans and signed two new loan agreements
Rettig Group Ltd has signed agreements with creditors to extend or renew certain term loans available under bilateral agreements that were previously set to mature in 2020. After such extensions and renewals, certain of Rettig Group’s bilateral loans will mature as follows:
- Danske Bank A/S, Finland Branch (EUR 20 million) on 9 July 2021 with a one-year extension option;
- OP Corporate Bank Plc (EUR 30 million) on 15 June 2021 with a one-year extension option;
- Skandinaviska Enskilda Banken AB (publ) (EUR 25 million) on 5 November 2021 with a one-year extension option; and
- UniCredit Bank Austria AG (EUR 25 million) on 26 April 2021
In addition, Rettig Group has signed two new bilateral loan agreements with Varma Mutual Pension Insurance Company and Nordea Bank Abp. The EUR 15 million loan from Varma Mutual Pension Insurance Company is a premium loan based on Rettig Group Ltd’s TyEL insurance contributions and matures on 22 April 2023. The EUR 25 million loan from Nordea Bank Abp is a floating rate bullet loan that matures on 17 April 2021.
All of the above financing is for general corporate purposes and partly replaces Rettig Group’s commercial papers that mature during 2020. Further, Rettig Group employs committed revolving credit facilities of EUR 100 million maturing on 5 April 2022 and of EUR 110 million maturing on 13 April 2023.
Thomas Ekström, CFO, Rettig Group
Telephone +358 (0)50 381 9751