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2009-04-15 12:35:00 CEST 2009-04-15 12:35:17 CEST REGULATED INFORMATION Cramo Oyj - Company AnnouncementCramo issues EUR 50 million hybrid bondCramo Plc Company announcement 15 April 2009, at 1.35 pm Finnish time (GMT+2) CRAMO ISSUES EUR 50 MILLION HYBRID BOND Cramo Plc has resolved to issue a EUR 50 million hybrid bond in order to strengthen the Group's capital structure and to repay existing interest-bearing debt. The coupon rate of the bond is 12.0% per annum. The bond has no maturity but the company may call the bond after four years. The bond was sold to Finnish investors. The lead manager of the bond issue was Nordea Markets. Hybrid bond is a bond which is subordinated to the company's other debt obligations and treated as equity in the IFRS financial statements. Hybrid bonds do not confer to holders the right to vote at shareholder meetings and do not dilute the holdings of the current shareholders. As a consequence of the financing arrangement, Cramo Group's equity ratio improves by about five percentage points to about 37-38% compared to the level of 32.4% at the end of 2008. The final effect of the transaction will be visible in the Group's second quarter interim figures for 2009. CRAMO PLC Vesa Koivula President and CEO For more information Martti Ala-Härkönen, CFO, Cramo Plc, tel. +358 10 66110, +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 approximately 300 depots. With a group staff of 2.600, Cramo's consolidated sales for 2008 totalled EUR 580 million and its shares are listed on the NASDAQ OMX Helsinki Ltd. For further information, please visit www.cramo.com. |
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