The loan was arranged by Citigroup and subscribed for by US insurance companies. The loan is unsecured and does not have a public quotation. The terms of the loan include covenants that protect investors in conformity with market practice. The proceeds of the loan offering will be used for general corporate purposes, including repayment of short-term loans. Kesko's intensive investment programme implemented during the last few years has increased the consolidated balance sheet total and long-term real estate properties. The loan arrangement will correspondingly extend the maturity of the Group's loan portfolio and decrease the sensitivity of the Group's financing costs to interest rate volatility.
Further information:
Treasurer Heikki Ala-Seppälä, Kesko Corporation, tel. +358 1053 22528
Treasurer Heikki Ala-Seppälä, Kesko Corporation, tel. +358 1053 22528
Kesko Corporation
Corporate Communications
Corporate Communications
Jukka Pokki
IR-manager
IR-manager
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HEX Helsinki Exchanges
Main news media