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2010-12-15 08:00:00 CET 2010-12-15 08:00:03 CET REGULATED INFORMATION Cramo Oyj - Company AnnouncementCramo Plc has refinanced credit agreements totalling EUR 375 millionVantaa, Finland Cramo Plc Stock Exchange Release 15 December 2010 at 9.00 am Finnish time (GMT+2) Cramo Plc has refinanced credit agreements totalling EUR 375 million Cramo Plc has signed a new long-term club loan with a total amount of EUR 375 million to refinance its existing long-term syndicated loan facilities. The existing facility was agreed in 2007 and was due to mature in January 2013. The new unsecured syndicated loan is for four years with one year extension option.The loan consists of a EUR 175 million term loan and a EUR 200 million revolving credit facility. The loan has two financial covenants: the Net Debt to EBITDA ratio and the gearing ratio. The following five banks participated as Mandated Lead Arrangers in the transaction: Pohjola Bank, Nordea, Svenska Handelsbanken, DnB NOR and SEB. Pohjola Bank acted as the sole co-ordinator of the transaction on behalf of Cramo Plc. Cramo Group's CFO Mr Martti Ala-Härkönen comments: "The refinancing of Cramo's long-term syndicate loan agreement is important for the company from several perspectives. The new loan arrangement improves Cramo's liquidity and reduces the Group's interest expenses markedly. Further, the new loan arrangement provides additional flexibility for Cramo to pursue growth through acquisitions." CRAMO PLC Vesa Koivula President and CEO Further information Martti Ala-Härkönen, CFO, tel. +358 40 737 6633 Distribution NASDAQ OMX Helsinki Ltd. Major media www.cramo.com Cramo is a service company specialising in construction machinery and equipment rental and rental-related services, as well as the rental and sale of modular space. As one of the industry's leading service providers in the Nordic countries and Central and Eastern Europe, Cramo operates in eleven countries with 284 depots. With a group staff of 2.000, Cramo's consolidated sales for 2009 was EUR 450 million and Cramo shares are listed on the NASDAQ OMX Helsinki Ltd. For further information, please visit www.cramo.com. |
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