Tornator Oyj – listed on the stock exchange June 18, 2021, 17:00 EET
Tornator signed new long-term bank loan agreements
Logging company Tornator Oyj has signed new secured lending and environmental bank lending agreements in the amount of EUR 150 million.
The agreed bank loans mature in 2028 and are therefore a great addition to Tornator’s interest-bearing repayment profile. The new funding will share the same security pool with other Tornator secured bank loans and bonds.
The total amount of EUR 150 million consists of long-term loans, and the funds will be used in accordance with the Tornator green financing concept, in particular for the early repayment of a bank loan of EUR 75 million due in spring 2022.
The lenders in this bank loan agreement are OP and SEB.
For more information contact:
Chief Financial Officer Antti Siirtola, tel. +358 40 773 0975
Tornator is the leading sustainable forestry company in Europe. Owns forests in Finland, Estonia and Romania. In 2020, the Group’s net revenues were approximately EUR 118 million and a book value of approximately EUR 2.0 billion. The Group employs about 180 people. Tornator’s own employees, as well as other companies and their employees working in the forest land, add up to about 1000 man-years of work. The owners of the parent company are Finnish, mostly institutional investors. Tornator’s mission is to ensure sustainable well-being through forests.