RAPALA VMC CORPORATION REARRANGED ITS LOAN AND CREDIT FACILITIES
Comunicato Precedente
Comunicato Successivo
Rapala VMC Corporation
Stock Exchange Release
September 25, 2014 at 1:15 p.m.
Rapala VMC Corporation ("the Group") has signed new term loan and revolving credit facilities agreements and amended some of its existing loan agreements. The total nominal amount of new and amended existing loan agreements totals 156 MEUR, which consists of 80 MEUR committed revolving credit facilities and 76 MEUR term loans. New loan and credit facilities replace and refinance existing loan agreements.
After signing the agreements the maturity profile of Group's term loans, drawn and committed undrawn revolving credit facilities is the following: 2015: 10 MEUR, 2016: 15 MEUR, 2017: 45 MEUR, 2018: 15 MEUR, 2019: 56 MEUR, 2020: -, 2021: 20 MEUR.
Rapala VMC Corporation's bank loans and credit facilities are bilateral agreements with Nordea Bank Finland Plc, Pohjola Bank Plc, Skandinaviska Enskilda Banken AB (publ) and Danske Bank A/S. The new loans and facilities are unsecured and include the same net debt, EBITDA and equity based financial covenants as the existing loans and facilities. The rearrangement of the loan and credit facilities will decrease Group's interest rate margins, diversify the maturity profile and strengthen the Group's capabilities to finance its strategy of profitable growth.
RAPALA VMC CORPORATION
Jorma Kasslin
Chief Executive Officer
For further information, please contact:
Jan-Elof Cavander, Group Treasurer, tel. +358 9 7562 540
Jussi Ristimäki, Chief Financial Officer, tel. +358 9 7562 540
Distribution: NASDAQ OMX Helsinki and Main Media
Rapala VMC Corporation ("the Group") 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, Mora Ice, StrikeMaster, Marttiini and Peltonen. The Group, with net sales of EUR 287 million in 2013, employs some 2 500 people in 39 countries. Rapala VMC Corporation's share is listed and traded on the NASDAQ OMX Helsinki stock exchange since 1998.
Copyright GlobeNewswire
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