RAPALA REFINANCES ITS BANK DEBT
(Thomson Reuters ONE) -
Rapala VMC Corporation
Stock Exchange Release
April 16, 2012 at 4:00 p.m.
Nordea, Pohjola and SEB provide new 5-year loan facilities total of 150 MEUR
Rapala VMC Corporation ("Rapala") has today finalized the refinancing of its
bank loan facilities. Bilateral loan agreements signed simultaneously with
Nordea Bank Finland Plc , Pohjola Bank Plc and Skandinaviska Enskilda Banken AB
(pub) provide a new total facility of 150 MEUR. New facilities include 5-year
amortized term loans of 50 MEUR, 5-year bullet term loans of 20 MEUR with a 2-
year extension element and 5-year committed revolving credit facilities of 80
MEUR. The new facilities are unsecured and include normal net debt, EBITDA and
equity based financial covenants. The new total facility will provide
flexibility to arrange Group's seasonal and long term funding and strengthens
Rapala's capabilities to finance its strategy of profitable growth.
Commercial Paper Program extended to 40 MEUR
Simultaneously with refinancing its bank loan facilities Rapala has made a
decision to extend the size of its existing commercial paper program from the
current 25 MEUR to 40 MEUR. Commercial paper program is utilized to satisfy
Group's short-term funding needs cost-efficiently.
RAPALA VMC CORPORATION
Jorma Kasslin
Chief Executive Officer
For further information, please contact:
Jussi Ristimäki, Chief Financial Officer, tel. +358 9 7562 540
Distribution: NASDAQ OMX Helsinki and Main Media
Rapala VMC Corporation (Rapala) is a leading fishing tackle company and the
global market leader in fishing lures, treble hooks and fishing related knives
and tools. The Group also has a strong global position in other fishing
categories and it is one of the leading distributors of outdoor, hunting and
winter sport products in the Nordic countries. The Group has the largest
distribution network in the industry. The main manufacturing facilities are
located in Finland, France, Estonia, Russia, China, Indonesia and the UK. The
Group brand portfolio includes the leading brand in the industry, Rapala, and
other global brands like VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson,
Dynamite Baits, Marttiini and Peltonen. The Group, with net sales of EUR 279
million in 2011, employs some 2 000 people in 37 countries. Rapala's share is
listed and traded on the NASDAQ OMX Helsinki stock exchange since 1998.
Stock Exchange Release:
http://hugin.info/120091/R/1602697/506445.pdf
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Source: Rapala VMC Oyj via Thomson Reuters ONE
[HUG#1602697]
Unternehmensinformation / Kurzprofil:
Datum: 16.04.2012 - 15:00 Uhr
Sprache: Deutsch
News-ID 135294
Anzahl Zeichen: 3385
contact information:
Town:
Helsinki
Kategorie:
Business News
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"RAPALA REFINANCES ITS BANK DEBT"
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