Tornator Secures Major Financial Backing with New Loans
Tornator Secures Major Financial Backing
Tornator Oyj, a prominent name in sustainable forestry across Europe, has made significant strides in its financial landscape. Recently, the company has finalized a new EUR 200 million Revolving Credit Facility, paving the way for the refinancing of its previous credit facility of the same amount.
Details of the Financing
The newly secured Revolving Credit Facility is not only substantial in value but also comes with an extended maturity date set for September 2029. This strategic move allows Tornator to strengthen its financial base, providing the necessary liquidity to support its ongoing and future operations.
Term-Loan Extension for Financial Flexibility
In conjunction with the Revolving Credit Facility, Tornator has also extended its existing EUR 200 million secured term-loan for an additional year. The new maturity date for this significant term-loan has been set for March 2026, effectively providing Tornator with added flexibility and stability in its financial commitments.
Support from Financial Partners
The successful arrangement of both the Revolving Credit Facility and the term-loan extension was facilitated by Danske Bank, OP Corporate Bank, and SEB. These banking partners previously arranged the original transactions and continue to play a pivotal role in supporting Tornator’s continued growth and operational efficiency.
About Tornator
Tornator is not just a financial entity; it is a leader in sustainable forestry in Europe, managing forests across Finland, Estonia, and Romania. In the recent fiscal year, the company reported a turnover of approximately €195 million, and the total balance sheet value stands robust at around €3.6 billion. With a dedicated workforce of about 190 employees, the company also contributes significantly to employment through various collaborations, estimating roughly 1,600 person-years of work in its forestlands.
Future Prospects
The recent financial arrangements highlight Tornator’s commitment to ensuring sustainable wellbeing from its forest resources. As the company moves forward, it aims to leverage this robust financial backing to enhance its operations further and contribute positively to the environment and economy.
Frequently Asked Questions
What is the total amount of the new Revolving Credit Facility?
The new Revolving Credit Facility secured by Tornator amounts to EUR 200 million.
When is the maturity date for the Revolving Credit Facility?
The maturity date for the new Revolving Credit Facility is set for September 2029.
How long has Tornator extended its term-loan?
Tornator has extended its EUR 200 million term-loan by one year, now maturing in March 2026.
Which banks were involved in arranging the financing?
The financing was arranged by Danske Bank, OP Corporate Bank, and SEB.
What are Tornator's key operations?
Tornator specializes in sustainable forestry, managing forests in Finland, Estonia, and Romania, emphasizing environmental sustainability and economic contributions.
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