Cramo Oyj - Company Announcement

Cramo Plc has refinanced long-term credit agreements totalling EUR 375 million

Vantaa, Finland, 2014-06-19 09:00 CEST (GLOBE NEWSWIRE) -- Cramo Plc    Stock
Exchange Release 19 June 2014 at 10.00 am Finnish time (GMT+2) 

Cramo Plc has refinanced long-term 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 loan facilities. 

The existing facility was agreed in 2010 and was due to mature in December
2015. The new unsecured syndicated loan matures on 1 January 2020 with one year
extension option. The loan consists of a EUR 125 million term loan and a EUR
250 million revolving credit facility. The loan has one financial covenant: the
Net Debt to EBITDA ratio. 

The following five banks participated as Mandated Lead Arrangers in the
transaction: DNB, Nordea, Pohjola Bank, SEB and Swedbank. Pohjola Bank acted as
the coordinator of the transaction on behalf of Cramo Plc. 

“The refinancing of Cramo's long-term syndicate loan agreement is important for
the company from several perspectives. The new loan arrangement improves the
maturity profile of Cramo's debt portfolio and reduces the Group's interest
expenses. Furthermore, the new loan arrangement, with one financial covenant
instead of the previous two, provides also additional flexibility for the Group
to pursue a growth strategy both organically and through acquisitions”,
comments Mr Martti Ala-Härkönen, CFO of Cramo Group. 

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 Europe's second largest rental services company specialising in
construction machinery and equipment rental and rental-related services as well
as the rental of modular space. Cramo operates in fifteen countries with 360
depots. With a group staff around 2.500, Cramo's consolidated sales in 2013 was
EUR 660 million. Cramo shares are listed on the NASDAQ OMX Helsinki Ltd.