TECHNOPOLIS PLC INVESTOR NEWS March 7, 2018 at 10:00 a.m. EET
Technopolis Enters into EUR 518 Million Refinancing Agreement
On March 5, 2018, Technopolis signed a five-year EUR 518 million refinancing agreement with three Nordic financial institutions. The package consists of four secured facilities:
- a EUR 150 million term loan facility for refinancing existing debt,
- a EUR 100 million committed capex facility,
- a EUR 100 million committed revolving credit facility and
- a EUR 168 million guarantee facility.
These facilities will replace the majority of Technopolis Plc’s bilateral secured bank loans the company had in place earlier in Finland, with the exception of long-term loans from the European Investment Bank, totaling EUR 166 million.
The facility agreement includes customary financial covenants that are based on maintaining an equity ratio above 30%, keeping LTV below 65% and an interest coverage ratio above 2.25.
Technopolis Plc
Sami Laine
CFO
Phone +358 40 502 7083
Technopolis is a shared workspace expert. We provide efficient and flexible offices, coworking spaces and everything that goes with them. Our services run from designing the workspace to reception, meeting solutions, restaurants and cleaning. We are obsessed with customer satisfaction and value creation. Our 17 campuses host 1,600 companies with 50,000 employees in six countries within the Nordic and Baltic Sea region. Technopolis Plc (TPS1V) is listed on Nasdaq Helsinki.