21.6.2016

Sponda – Syndicated Credit Facilities Agreement Totalling EUR 600 Million

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We advised the banks in relation to the arrangement in which Sponda Plc signed a syndicated credit facilities agreement for EUR 600 million in total. The agreement includes a term-loan for EUR 500 million and a EUR 100 million revolving credit facility.

The unsecured facilities are for 5 years. The term-loan is being used for refinancing existing loans that mature in 2016 and for general corporate purposes. The EUR 100 million revolving credit facility extends the similar undrawn EUR 100 million revolving credit facility’s original maturity onwards from November 2016.

The terms for the facilities are similar to those of for Sponda’s other loans and the most important covenants (the equity ratio and the interest coverage ratio) of the arrangement are in line with the company’s other financial covenants.

The mandated lead arrangers and bookrunners are Danske Bank A/S, Nordea, OP Corporate Bank plc, SEB and Swedbank AB (publ) and the lead arrangers Aktia Bank p.l.c. and Helaba (Landesbank Hessen-Thüringen Girozentrale). Nordea acted as sole co-ordinating bookrunner and is the Facility Agent.

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